Trane Technologies plc (NYSE:TT) Position Boosted by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. raised its position in shares of Trane Technologies plc (NYSE:TT) by 12.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,216 shares of the company’s stock after buying an additional 135 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Trane Technologies were worth $410,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Minot DeBlois Advisors LLC purchased a new stake in shares of Trane Technologies in the fourth quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Trane Technologies in the fourth quarter worth approximately $28,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Trane Technologies in the fourth quarter worth approximately $37,000. Golden State Wealth Management LLC purchased a new stake in shares of Trane Technologies in the fourth quarter worth approximately $39,000. Finally, NBC Securities Inc. purchased a new stake in shares of Trane Technologies in the first quarter worth approximately $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TT. Royal Bank of Canada increased their price target on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. UBS Group increased their price objective on Trane Technologies from $470.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Citigroup increased their price objective on Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Finally, Hsbc Global Res upgraded Trane Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $427.47.

Trane Technologies Trading Down 1.3%

Shares of TT stock opened at $422.01 on Wednesday. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $436.61. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $386.33 and its two-hundred day moving average is $376.60. The company has a market cap of $94.12 billion, a PE ratio of 37.51, a price-to-earnings-growth ratio of 2.50 and a beta of 1.16.

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

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.89%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.28%.

Insider Buying and Selling at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the firm’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the sale, the insider now owns 3,593 shares in the company, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies 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.