Fiduciary Trust Co Has $3.90 Million Position in Trane Technologies plc (NYSE:TT)

Fiduciary Trust Co boosted its position in shares of Trane Technologies plc (NYSE:TT) by 6.9% during the 4th quarter, HoldingsChannel reports. The fund owned 10,568 shares of the company’s stock after buying an additional 678 shares during the quarter. Fiduciary Trust Co’s holdings in Trane Technologies were worth $3,903,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in TT. Sound Income Strategies LLC grew its holdings in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after purchasing an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new stake in Trane Technologies during the fourth quarter worth $37,000. Golden State Wealth Management LLC acquired a new stake in Trane Technologies during the fourth quarter worth $39,000. BankPlus Trust Department bought a new stake in Trane Technologies in the 4th quarter valued at $45,000. Finally, Centricity Wealth Management LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at $55,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. upped their price objective on Trane Technologies from $323.00 to $334.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Melius Research restated a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target on the stock in a research report on Thursday, May 1st. Finally, Citigroup increased their price objective on Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $421.07.

Trane Technologies Stock Performance

Trane Technologies stock opened at $404.32 on Friday. The company has a market cap of $90.17 billion, a PE ratio of 35.94, a PEG ratio of 2.50 and a beta of 1.14. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $422.00. The company’s 50-day moving average is $350.05 and its two-hundred day moving average is $372.45.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period in the prior year, the business posted $1.94 earnings per share. Trane Technologies’s revenue was up 11.2% compared to the same quarter last year. Equities analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.93%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.28%.

Insider Activity at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 770 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the sale, the chief financial officer now owns 62,221 shares in the company, valued at $22,299,384.19. This represents a 1.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Donald E. Simmons sold 3,571 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the sale, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. The trade was a 49.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,977 shares of company stock worth $2,577,061. 0.38% of the stock is 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.