M&T Bank Corp Has $26.22 Million Position in Trane Technologies plc (NYSE:TT)

M&T Bank Corp trimmed its stake in shares of Trane Technologies plc (NYSE:TT) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,480 shares of the company’s stock after selling 130 shares during the quarter. M&T Bank Corp’s holdings in Trane Technologies were worth $26,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in TT. Keel Point LLC raised its holdings in Trane Technologies by 3.0% during the 4th quarter. Keel Point LLC now owns 1,326 shares of the company’s stock worth $323,000 after purchasing an additional 39 shares during the last quarter. Rosenberg Matthew Hamilton lifted its holdings in Trane Technologies by 27.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after buying an additional 41 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in Trane Technologies by 2.3% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock valued at $450,000 after acquiring an additional 42 shares during the last quarter. Cedrus LLC grew its holdings 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 raised its position in shares of Trane Technologies by 3.1% in the 3rd quarter. Certuity LLC now owns 1,549 shares of the company’s stock worth $314,000 after acquiring an additional 46 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Transactions at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 2,767 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the completion of the sale, the chief financial officer now owns 54,788 shares in the company, valued at $14,700,168.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Christopher J. Kuehn sold 2,767 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total value of $742,413.77. Following the sale, the chief financial officer now directly owns 54,788 shares in the company, valued at approximately $14,700,168.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David S. Regnery sold 6,990 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the sale, the chief executive officer now owns 113,874 shares in the company, valued at $32,589,600.06. The disclosure for this sale can be found here. Insiders have sold 28,237 shares of company stock worth $8,024,534 in the last 90 days. Insiders own 0.39% of the company’s stock.

Trane Technologies Stock Up 0.8 %

TT traded up $2.50 during midday trading on Friday, reaching $319.29. 1,074,535 shares of the company were exchanged, compared to its average volume of 1,049,630. The company has a market cap of $72.27 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. Trane Technologies plc has a one year low of $162.04 and a one year high of $327.09. The company’s fifty day moving average price is $295.83 and its 200 day moving average price is $257.93. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.78 and a current ratio of 1.13.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.30. The business had revenue of $4.22 billion during the quarter, compared to the consensus estimate 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 was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.41 earnings per share. As a group, analysts expect that Trane Technologies plc will post 10.47 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Analysts Set New Price Targets

Several equities research analysts recently commented on TT shares. Citigroup upped their target price on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research report on Wednesday. Royal Bank of Canada raised their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a research note on Thursday. Barclays raised 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, JPMorgan Chase & Co. upped their price objective on shares of Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $300.54.

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.