Cullen Frost Bankers Inc. Sells 600 Shares of Trane Technologies plc (NYSE:TT)

Cullen Frost Bankers Inc. cut its position in shares of Trane Technologies plc (NYSE:TT) by 14.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,610 shares of the company’s stock after selling 600 shares during the period. Cullen Frost Bankers Inc.’s holdings in Trane Technologies were worth $880,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of TT. International Assets Investment Management LLC increased its position in Trane Technologies by 24,670.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after purchasing an additional 1,030,247 shares during the period. JPMorgan Chase & Co. lifted its position in Trane Technologies by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after acquiring an additional 880,583 shares during the period. FMR LLC grew its stake in Trane Technologies by 12.4% during the 3rd quarter. FMR LLC now owns 5,743,154 shares of the company’s stock valued at $1,165,343,000 after purchasing an additional 632,598 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Trane Technologies by 36.4% in the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after purchasing an additional 436,997 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd boosted its position in Trane Technologies by 31.4% in the third quarter. Alphinity Investment Management Pty Ltd now owns 1,812,549 shares of the company’s stock valued at $367,784,000 after buying an additional 433,388 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

TT stock opened at $332.92 on Friday. The company has a market capitalization of $75.36 billion, a PE ratio of 35.57, a P/E/G ratio of 2.54 and a beta of 1.01. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. The business’s fifty day moving average price is $298.38 and its 200 day moving average price is $261.10. Trane Technologies plc has a 12-month low of $162.04 and a 12-month high of $333.42.

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. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The firm had revenue of $4.22 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the prior year, the company posted $1.41 earnings per share. Trane Technologies’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Trane Technologies plc will post 10.48 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.36 annualized dividend and a yield of 1.01%. Trane Technologies’s dividend payout ratio is currently 35.90%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Barclays lifted their price target on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada raised their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. 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. Mizuho increased their price target on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group increased their target price on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $300.54.

Insider Activity at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 2,767 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total transaction of $742,413.77. Following the completion of the transaction, the chief financial officer now directly owns 54,788 shares in the company, valued at approximately $14,700,168.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Trane Technologies news, SVP Evan M. Turtz sold 2,821 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $288.33, for a total transaction of $813,378.93. Following the completion of the sale, the senior vice president now owns 20,729 shares in the company, valued at approximately $5,976,792.57. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 2,767 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total value of $742,413.77. Following the completion of the sale, the chief financial officer now owns 54,788 shares of the company’s stock, valued at $14,700,168.28. The disclosure for this sale can be found here. Insiders sold a total of 25,746 shares of company stock worth $7,345,786 over the last 90 days. Company insiders own 0.39% of the company’s stock.

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.