Parkside Financial Bank & Trust Buys 88 Shares of Trane Technologies plc (NYSE:TT)

Parkside Financial Bank & Trust raised its stake in shares of Trane Technologies plc (NYSE:TT) by 13.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 739 shares of the company’s stock after acquiring an additional 88 shares during the period. Parkside Financial Bank & Trust’s holdings in Trane Technologies were worth $180,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in shares of Trane Technologies by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after purchasing an additional 880,583 shares during the period. FMR LLC raised its stake in shares of Trane Technologies by 12.4% during the 3rd quarter. FMR LLC now owns 5,743,154 shares of the company’s stock worth $1,165,343,000 after purchasing an additional 632,598 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Trane Technologies by 2.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock worth $821,952,000 after purchasing an additional 103,823 shares during the period. Morgan Stanley raised its stake in shares of Trane Technologies by 0.6% during the 3rd quarter. Morgan Stanley now owns 2,797,382 shares of the company’s stock worth $567,617,000 after purchasing an additional 17,758 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Trane Technologies by 4.3% during the 3rd quarter. Northern Trust Corp now owns 2,522,449 shares of the company’s stock worth $511,830,000 after purchasing an additional 104,653 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Trane Technologies Stock Up 0.5 %

TT stock opened at $296.49 on Thursday. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $67.32 billion, a PE ratio of 33.73, a PEG ratio of 2.49 and a beta of 1.05. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $306.98. The stock has a 50-day simple moving average of $291.04 and a two-hundred day simple moving average of $253.23.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. The business had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.82 EPS. On average, equities analysts predict that Trane Technologies plc will post 10.2 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.13%. Trane Technologies’s dividend payout ratio (DPR) is presently 38.23%.

Insider Activity

In other news, CFO Christopher J. Kuehn sold 2,767 shares of Trane Technologies stock in a transaction dated Tuesday, February 13th. The stock was 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 approximately $14,700,168.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was 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 of the company’s stock, valued at $24,449,442.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 2,767 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total value of $742,413.77. Following the completion of the sale, the chief financial officer now directly owns 54,788 shares of the company’s stock, valued at approximately $14,700,168.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,874 shares of company stock worth $8,462,825. 0.39% of the stock is currently owned by insiders.

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.