Trane Technologies plc (NYSE:TT) Shares Sold by Commerce Bank

Commerce Bank reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,718 shares of the company’s stock after selling 1,381 shares during the period. Commerce Bank owned 0.05% of Trane Technologies worth $28,224,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in shares of Trane Technologies by 36.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after purchasing an additional 436,997 shares during the last quarter. Westpac Banking Corp lifted its holdings in Trane Technologies by 8.0% in the fourth quarter. Westpac Banking Corp now owns 31,626 shares of the company’s stock valued at $7,714,000 after acquiring an additional 2,347 shares during the last quarter. Locust Wood Capital Advisers LLC acquired a new position in Trane Technologies in the fourth quarter valued at approximately $1,537,000. Xponance Inc. lifted its holdings in Trane Technologies by 18.6% in the fourth quarter. Xponance Inc. now owns 43,825 shares of the company’s stock valued at $10,689,000 after acquiring an additional 6,869 shares during the last quarter. Finally, CHICAGO TRUST Co NA lifted its holdings in Trane Technologies by 2.1% in the fourth quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock valued at $765,000 after acquiring an additional 64 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Citigroup upped 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. Stephens upped their price objective on Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Royal Bank of Canada upped their price objective on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Barclays upped their price target on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Robert W. Baird upped their price target on Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. One investment 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. According to MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average price target of $300.54.

Insider Activity at Trane Technologies

In related news, SVP Evan M. Turtz sold 2,821 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $288.33, for a total value of $813,378.93. Following the transaction, the senior vice president now owns 20,729 shares of the company’s stock, valued at $5,976,792.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the transaction, the chief executive officer now owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Evan M. Turtz sold 2,821 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $288.33, for a total value of $813,378.93. Following the transaction, the senior vice president now directly owns 20,729 shares in the company, valued at approximately $5,976,792.57. The disclosure for this sale can be found here. Insiders have sold 22,979 shares of company stock valued at $6,603,372 over the last quarter. 0.39% of the stock is owned by insiders.

Trane Technologies Stock Up 1.2 %

Shares of Trane Technologies stock traded up $4.12 during trading hours on Friday, reaching $337.04. 218,225 shares of the company were exchanged, compared to its average volume of 995,712. Trane Technologies plc has a 1 year low of $162.04 and a 1 year high of $338.09. The stock’s fifty day moving average is $308.24 and its 200 day moving average is $271.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13. The firm has a market cap of $76.29 billion, a PE ratio of 35.57, a PEG ratio of 2.65 and a beta of 1.01.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The business had revenue of $4.22 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the prior year, the company earned $1.41 earnings per share. The company’s revenue was up 15.0% on a year-over-year basis. As a group, equities research analysts forecast that Trane Technologies plc will post 10.46 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.00%. The ex-dividend date is Friday, June 7th. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

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.