FineMark National Bank & Trust Increases Position in Trane Technologies plc (NYSE:TT)

FineMark National Bank & Trust increased its stake in Trane Technologies plc (NYSE:TT) by 0.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,085 shares of the company’s stock after acquiring an additional 234 shares during the period. FineMark National Bank & Trust’s holdings in Trane Technologies were worth $18,119,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Motco purchased a new position in Trane Technologies in the fourth quarter worth $27,000. Sachetta LLC bought a new stake in Trane Technologies in the fourth quarter worth $27,000. GoalVest Advisory LLC lifted its stake in Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in Trane Technologies in the first quarter worth $27,000. Finally, BOK Financial Private Wealth Inc. bought a new stake in Trane Technologies in the first quarter worth $30,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

TT stock opened at $346.53 on Thursday. Trane Technologies plc has a 1 year low of $184.02 and a 1 year high of $363.15. The company has a market cap of $78.44 billion, a P/E ratio of 37.02, a PEG ratio of 2.51 and a beta of 1.01. The firm has a 50-day moving average of $338.02 and a 200 day moving average of $319.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.68 earnings per share. On average, sell-side analysts forecast that Trane Technologies plc will post 10.82 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Analyst Ratings Changes

Several research firms have weighed in on TT. UBS Group boosted their price target on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $310.00 to $315.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. Stephens reaffirmed an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. Royal Bank of Canada upped their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Finally, Barclays upped their price objective on shares of Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $323.29.

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.