Cullen Frost Bankers Inc. Has $880,000 Stake in Trane Technologies plc (NYSE:TT)

Cullen Frost Bankers Inc. trimmed its stake in Trane Technologies plc (NYSE:TT) by 14.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,610 shares of the company’s stock after selling 600 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Trane Technologies were worth $880,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TT. Keel Point LLC lifted its stake in shares of Trane Technologies by 3.0% in the 4th quarter. Keel Point LLC now owns 1,326 shares of the company’s stock valued at $323,000 after purchasing an additional 39 shares during the period. Rosenberg Matthew Hamilton boosted its holdings in shares of Trane Technologies by 27.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock worth $47,000 after buying an additional 41 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Trane Technologies by 2.3% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock worth $450,000 after purchasing an additional 42 shares in the last quarter. Cedrus LLC raised its stake in Trane Technologies by 2.6% during the 4th quarter. Cedrus LLC now owns 1,669 shares of the company’s stock worth $407,000 after acquiring an additional 43 shares during the period. Finally, Certuity LLC boosted its position in shares of Trane Technologies by 3.1% in the third quarter. Certuity LLC now owns 1,549 shares of the company’s stock worth $314,000 after purchasing an additional 46 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 3,762 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the sale, the chief financial officer now owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Evan M. Turtz sold 2,821 shares of the company’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 transaction, the senior vice president now directly owns 20,729 shares of the company’s stock, valued at $5,976,792.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 3,762 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the sale, the chief financial officer now owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The disclosure for this sale can be found here. Insiders sold a total of 25,746 shares of company stock valued at $7,345,786 in the last quarter. 0.39% of the stock is currently owned by insiders.

Trane Technologies Trading Up 1.6 %

Trane Technologies stock opened at $332.92 on Friday. The company’s fifty day moving average price is $298.38 and its two-hundred day moving average price is $261.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74. Trane Technologies plc has a one year low of $162.04 and a one year high of $333.42. The company has a market capitalization of $75.36 billion, a price-to-earnings ratio of 35.57, a PEG ratio of 2.54 and a beta of 1.01.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.30. The company had revenue of $4.22 billion for the quarter, compared to analyst estimates of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. Trane Technologies’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.41 EPS. On average, analysts forecast that Trane Technologies plc will post 10.48 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared 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. This represents a $3.36 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, June 7th. Trane Technologies’s dividend payout ratio is 35.90%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Robert W. Baird upped their target price on shares of Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Citigroup increased their price objective on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. TD Cowen upped their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Mizuho boosted their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company boosted their target price on Trane Technologies from $281.00 to $295.00 and gave the stock an “underweight” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $300.54.

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.