Trane Technologies plc (NYSE:TT) Shares Purchased by FineMark National Bank & Trust

FineMark National Bank & Trust lifted its position in shares of Trane Technologies plc (NYSE:TT) by 0.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 54,528 shares of the company’s stock after acquiring an additional 399 shares during the period. FineMark National Bank & Trust’s holdings in Trane Technologies were worth $13,299,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. US Bancorp DE lifted its holdings in Trane Technologies by 9.0% in the 4th quarter. US Bancorp DE now owns 70,199 shares of the company’s stock valued at $17,122,000 after acquiring an additional 5,774 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Trane Technologies by 4.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 8,009 shares of the company’s stock valued at $1,953,000 after buying an additional 366 shares in the last quarter. Allstate Corp purchased a new stake in Trane Technologies during the fourth quarter valued at about $227,000. WBI Investments LLC purchased a new stake in Trane Technologies during the fourth quarter valued at about $276,000. Finally, Central Valley Advisors LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at about $1,619,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

NYSE:TT traded down $0.54 during mid-day trading on Thursday, hitting $332.99. 456,614 shares of the stock traded hands, compared to its average volume of 1,000,739. The business’s 50-day moving average price is $307.42 and its 200 day moving average price is $270.56. The company has a market cap of $75.37 billion, a PE ratio of 35.92, a price-to-earnings-growth ratio of 2.67 and a beta of 1.01. Trane Technologies plc has a 12-month low of $162.04 and a 12-month high of $336.66. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data 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 net margin of 11.81% and a return on equity of 32.78%. The company had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the previous year, the company earned $1.41 earnings per share. Trane Technologies’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, analysts expect that Trane Technologies plc will post 10.48 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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

Analysts Set New Price Targets

TT has been the topic of a number of research reports. JPMorgan Chase & Co. upped their target price on Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Stephens raised their price target on shares of Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Royal Bank of Canada lifted their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Wells Fargo & Company lifted their target price on shares of Trane Technologies from $281.00 to $295.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. Finally, The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and an average price target of $300.54.

Insider Transactions at Trane Technologies

In other Trane Technologies news, SVP Evan M. Turtz sold 2,821 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $288.33, for a total value of $813,378.93. Following the completion of the transaction, the senior vice president now directly owns 20,729 shares in the company, valued at approximately $5,976,792.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Trane Technologies news, SVP Evan M. Turtz sold 2,821 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $288.33, for a total value of $813,378.93. Following the completion of the transaction, the senior vice president now directly owns 20,729 shares in the company, valued at approximately $5,976,792.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 6,990 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the transaction, the chief executive officer now owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,979 shares of company stock worth $6,603,372. 0.39% of the stock is currently owned by insiders.

Trane Technologies Company 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.