Trane Technologies plc (NYSE:TT) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. decreased its position in shares of Trane Technologies plc (NYSE:TT) by 13.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 919 shares of the company’s stock after selling 143 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Trane Technologies were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Trust Point Inc. lifted its position in Trane Technologies by 3.1% in the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock valued at $349,000 after buying an additional 27 shares during the last quarter. First Pacific Financial lifted its position in Trane Technologies by 1.1% in the third quarter. First Pacific Financial now owns 2,674 shares of the company’s stock valued at $1,039,000 after buying an additional 28 shares during the last quarter. PFG Private Wealth Management LLC lifted its position in Trane Technologies by 4.7% in the second quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock valued at $232,000 after buying an additional 32 shares during the last quarter. Bell Investment Advisors Inc lifted its position in Trane Technologies by 26.5% in the second quarter. Bell Investment Advisors Inc now owns 167 shares of the company’s stock valued at $55,000 after buying an additional 35 shares during the last quarter. Finally, Procyon Advisors LLC lifted its position in Trane Technologies by 4.0% in the third quarter. Procyon Advisors LLC now owns 927 shares of the company’s stock valued at $360,000 after buying an additional 36 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Mizuho upped their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley assumed coverage on shares of Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. Royal Bank of Canada increased their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Stephens reissued an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. Finally, Robert W. Baird increased their price target on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus target price of $373.58.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the sale, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Trane Technologies Stock Up 0.6 %

TT stock opened at $402.54 on Monday. The company’s 50 day moving average price is $369.37 and its 200 day moving average price is $339.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $406.96. The firm has a market capitalization of $91.12 billion, a price-to-earnings ratio of 43.01, a PEG ratio of 2.75 and a beta of 1.01.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.08 by $0.22. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.68 earnings per share. On average, equities research analysts anticipate that Trane Technologies plc will post 10.88 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.83%. Trane Technologies’s dividend payout ratio is currently 35.90%.

About Trane Technologies

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.