Coastline Trust Co Has $1.10 Million Stock Position in Trane Technologies plc (NYSE:TT)
Coastline Trust Co reduced its holdings in Trane Technologies plc (NYSE:TT) by 14.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,030 shares of the company’s stock after selling 1,500 shares during the quarter. Coastline Trust Co’s holdings in Trane Technologies were worth $1,095,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. CX Institutional increased its position in Trane Technologies by 302.6% in the 3rd quarter. CX Institutional now owns 310 shares of the company’s stock valued at $38,000 after acquiring an additional 233 shares during the period. Nachman Norwood & Parrott Inc acquired a new stake in shares of Trane Technologies during the third quarter worth $47,000. Kistler Tiffany Companies LLC acquired a new stake in shares of Trane Technologies during the second quarter worth $44,000. Ameritas Investment Company LLC acquired a new stake in shares of Trane Technologies during the first quarter worth $44,000. Finally, Fred Alger Management LLC acquired a new stake in shares of Trane Technologies during the first quarter worth $53,000. Hedge funds and other institutional investors own 81.03% of the company’s stock.
In related news, SVP Keith A. Sultana sold 8,496 shares of the firm’s stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $120.00, for a total transaction of $1,019,520.00. Following the completion of the sale, the senior vice president now owns 16,679 shares in the company, valued at $2,001,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Evan M. Turtz sold 20,003 shares of the firm’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $117.77, for a total transaction of $2,355,753.31. Following the sale, the senior vice president now owns 23,585 shares of the company’s stock, valued at approximately $2,777,605.45. The disclosure for this sale can be found here. Insiders have sold 93,213 shares of company stock worth $11,090,051 over the last three months. 0.92% of the stock is owned by insiders.
Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, July 29th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.50. Trane Technologies had a net margin of 6.76% and a return on equity of 18.82%. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $2.77 billion. The firm’s revenue was down 14.3% compared to the same quarter last year. On average, equities research analysts expect that Trane Technologies plc will post 3.82 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 4th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Thursday, December 3rd. Trane Technologies’s payout ratio is currently 33.28%.
Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $102.00 to $109.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 7th. Morgan Stanley increased their target price on shares of Trane Technologies from $119.00 to $122.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 13th. Barclays increased their target price on shares of Trane Technologies from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, October 5th. Zacks Investment Research lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $142.00 target price on the stock. in a research note on Thursday, October 8th. Finally, Stephens initiated coverage on shares of Trane Technologies in a research note on Thursday. They set an “equal weight” rating on the stock. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $111.27.
Trane Technologies Company Profile
Trane Technologies plc provides climate control solutions for buildings, homes, and transportation. It offers offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality; industrial refrigeration products; large and light commercial unitary products;motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.
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