Trane Technologies plc (NYSE:TT) Shares Sold by Webster Bank N. A.

Webster Bank N. A. cut its stake in Trane Technologies plc (NYSE:TT) by 78.6% in the first quarter, Holdings Channel.com reports. The firm owned 200 shares of the company’s stock after selling 734 shares during the quarter. Webster Bank N. A.’s holdings in Trane Technologies were worth $60,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. GSA Capital Partners LLP purchased a new position in shares of Trane Technologies during the 4th quarter worth $3,086,000. Wellington Management Group LLP boosted its holdings in Trane Technologies by 36.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock valued at $332,581,000 after purchasing an additional 436,997 shares during the last quarter. Capital World Investors grew its stake in shares of Trane Technologies by 0.6% in the 4th quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock valued at $530,870,000 after buying an additional 11,930 shares during the period. Stifel Financial Corp grew its stake in shares of Trane Technologies by 26.8% in the 4th quarter. Stifel Financial Corp now owns 99,611 shares of the company’s stock valued at $24,295,000 after buying an additional 21,040 shares during the period. Finally, Schroder Investment Management Group grew its stake in shares of Trane Technologies by 11.9% in the 4th quarter. Schroder Investment Management Group now owns 322,994 shares of the company’s stock valued at $78,778,000 after buying an additional 34,243 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the transaction, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the sale, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the transaction, the senior vice president now directly owns 20,758 shares in the company, valued at approximately $6,669,545.40. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TT has been the topic of a number of research analyst reports. TD Cowen lifted their target price on Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. increased their target price on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Robert W. Baird boosted their price target on shares of Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Mizuho increased their price objective on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Stephens boosted their target price on Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $309.79.

Trane Technologies Stock Down 1.4 %

Shares of Trane Technologies stock opened at $328.93 on Friday. Trane Technologies plc has a 52-week low of $184.02 and a 52-week high of $345.46. The company has a 50 day moving average of $325.25 and a 200 day moving average of $289.71. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $74.45 billion, a P/E ratio of 35.14, a P/E/G ratio of 2.61 and a beta of 1.01.

Trane Technologies (NYSE:TT) last posted its earnings results on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.64 by $0.30. The firm had revenue of $4.22 billion for the quarter, compared to analyst estimates of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. Trane Technologies’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.41 earnings per share. As a group, research analysts forecast that Trane Technologies plc will post 10.48 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 annualized dividend and a yield of 1.02%. Trane Technologies’s dividend payout ratio is currently 35.90%.

Trane Technologies Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.