Truist Financial Corp Grows Holdings in Trane Technologies plc (NYSE:TT)

Truist Financial Corp grew its stake in Trane Technologies plc (NYSE:TT) by 1.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 352,225 shares of the company’s stock after acquiring an additional 4,507 shares during the period. Truist Financial Corp owned about 0.15% of Trane Technologies worth $85,908,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in TT. International Assets Investment Management LLC grew its holdings in shares of Trane Technologies by 24,670.7% in the fourth quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after purchasing an additional 1,030,247 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Trane Technologies by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after purchasing an additional 880,583 shares in the last quarter. FMR LLC grew its holdings in shares of Trane Technologies by 12.4% in the third quarter. FMR LLC now owns 5,743,154 shares of the company’s stock valued at $1,165,343,000 after purchasing an additional 632,598 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Trane Technologies by 36.4% in the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock valued at $332,581,000 after purchasing an additional 436,997 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd grew its holdings in shares of Trane Technologies by 31.4% in the third quarter. Alphinity Investment Management Pty Ltd now owns 1,812,549 shares of the company’s stock valued at $367,784,000 after purchasing an additional 433,388 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TT has been the subject of a number of research reports. Citigroup lifted their price objective on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a report on Monday, April 8th. Royal Bank of Canada boosted their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Stephens boosted their price target on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Barclays boosted their price target on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Finally, The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $251.83.

Trane Technologies Stock Up 1.7 %

Shares of Trane Technologies stock traded up $5.16 during trading hours on Friday, hitting $304.53. The company had a trading volume of 961,790 shares, compared to its average volume of 833,800. The company’s 50-day moving average is $292.22 and its two-hundred day moving average is $254.25. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $306.98. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. The company has a market cap of $69.15 billion, a P/E ratio of 34.65, a price-to-earnings-growth ratio of 2.53 and a beta of 1.05.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The business had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the prior year, the business posted $1.82 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Analysts anticipate that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.84 dividend. The ex-dividend date is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.10%. Trane Technologies’s dividend payout ratio (DPR) is 38.23%.

Insider Activity at Trane Technologies

In related news, EVP Paul A. Camuti sold 508 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the completion of the sale, the executive vice president now owns 89,447 shares in the company, valued at approximately $24,449,442.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the transaction, the executive vice president now owns 89,447 shares in the company, valued at approximately $24,449,442.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Keith A. Sultana sold 1,637 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total transaction of $438,290.38. Following the transaction, the senior vice president now owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The disclosure for this sale can be found here. Insiders sold a total of 29,874 shares of company stock worth $8,462,825 in the last 90 days. 0.39% 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.