Fulton Bank N.A. Trims Holdings in Trane Technologies plc (NYSE:TT)

Fulton Bank N.A. lowered its position in Trane Technologies plc (NYSE:TT) by 11.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,541 shares of the company’s stock after selling 333 shares during the period. Fulton Bank N.A.’s holdings in Trane Technologies were worth $939,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of TT. International Assets Investment Management LLC lifted its holdings in shares of Trane Technologies by 35,914.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after buying an additional 1,640,569 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Trane Technologies by 35.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after acquiring an additional 671,691 shares during the period. 1832 Asset Management L.P. lifted its holdings in Trane Technologies by 7,363.1% in the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock valued at $139,067,000 after acquiring an additional 417,120 shares during the period. FMR LLC grew its stake in shares of Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after purchasing an additional 397,537 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of Trane Technologies by 42.9% during the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after purchasing an additional 293,916 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on TT shares. Citigroup raised their price target on shares of Trane Technologies from $457.00 to $478.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Northcoast Research assumed coverage on Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target for the company. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Barclays boosted their price objective on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Royal Bank of Canada increased their target price on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $414.57.

Trane Technologies Stock Performance

NYSE:TT opened at $386.19 on Thursday. The company has a market cap of $86.90 billion, a P/E ratio of 35.82, a P/E/G ratio of 2.38 and a beta of 1.06. Trane Technologies plc has a twelve month low of $240.51 and a twelve month high of $422.00. The company’s 50-day moving average price is $396.29 and its 200-day moving average price is $370.89. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the company posted $2.79 EPS. On average, sell-side analysts forecast that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

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.