52,673 Shares in Trane Technologies plc $TT Purchased by First Nebraska Trust Co

First Nebraska Trust Co purchased a new position in shares of Trane Technologies plc (NYSE:TT) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 52,673 shares of the company’s stock, valued at approximately $23,806,000. Trane Technologies accounts for approximately 2.0% of First Nebraska Trust Co’s investment portfolio, making the stock its 10th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. Amundi increased its stake in Trane Technologies by 47.8% in the 1st quarter. Amundi now owns 2,174,396 shares of the company’s stock valued at $906,158,000 after buying an additional 703,018 shares during the period. Janus Henderson Group PLC lifted its position in Trane Technologies by 10.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,878,018 shares of the company’s stock worth $782,707,000 after buying an additional 180,537 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Trane Technologies by 3.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,035,241 shares of the company’s stock valued at $431,347,000 after buying an additional 32,286 shares during the period. Ninety One UK Ltd boosted its stake in shares of Trane Technologies by 0.4% during the 3rd quarter. Ninety One UK Ltd now owns 926,668 shares of the company’s stock valued at $418,835,000 after buying an additional 3,624 shares during the period. Finally, California Public Employees Retirement System grew its holdings in shares of Trane Technologies by 51.9% during the 1st quarter. California Public Employees Retirement System now owns 686,691 shares of the company’s stock valued at $286,172,000 after acquiring an additional 234,666 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TT shares. Argus set a $500.00 price target on shares of Trane Technologies in a research note on Friday. Citigroup reduced their price objective on Trane Technologies from $566.00 to $549.00 and set a “buy” rating for the company in a research report on Monday. Weiss Ratings upgraded Trane Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 10th. Mizuho upped their target price on Trane Technologies from $475.00 to $485.00 and gave the stock a “neutral” rating in a research report on Thursday, October 15th. Finally, Robert W. Baird upped their target price on Trane Technologies from $515.00 to $532.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $535.89.

Trane Technologies Stock Performance

TT stock opened at $417.41 on Wednesday. The firm has a 50 day moving average of $449.06 and a two-hundred day moving average of $454.26. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $505.87. The company has a market capitalization of $91.37 billion, a price-to-earnings ratio of 28.19, a P/E/G ratio of 1.94 and a beta of 1.19. The company has a quick ratio of 0.79, a current ratio of 1.12 and a debt-to-equity ratio of 0.43.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, October 29th. The company reported $4.86 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.12. The business had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.50 billion. Trane Technologies had a net margin of 13.56% and a return on equity of 37.26%. Trane Technologies’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.88 EPS. As a group, equities analysts anticipate that Trane Technologies plc will post 15.29 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 4th will be given a $1.05 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.0%. Trane Technologies’s payout ratio is currently 29.66%.

Insider Buying and Selling at Trane Technologies

In other news, CEO David Regnery sold 48,091 shares of the company’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the completion of the sale, the chief executive officer owned 96,951 shares in the company, valued at approximately $46,536,480. This represents a 33.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate insiders.

About Trane Technologies

Trane Technologies plc is a global climate technology company that develops solutions for heating, ventilation, air conditioning, refrigeration and building management. Its products and services are designed to improve indoor comfort, energy efficiency and the sustainability of commercial, industrial, residential and institutional buildings.

The company operates through well-known brands including Trane, Thermo King and Frigoblock. Trane provides HVAC equipment, building controls, digital solutions, maintenance and energy services, while Thermo King and Frigoblock offer temperature-control systems for refrigerated transportation.