Truist Financial Corp Boosts Holdings in Trane Technologies plc (NYSE:TT)

Truist Financial Corp lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 352,225 shares of the company’s stock after buying an additional 4,507 shares during the quarter. Truist Financial Corp’s holdings in Trane Technologies were worth $85,908,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Syon Capital LLC grew its position in shares of Trane Technologies by 17.6% during the fourth quarter. Syon Capital LLC now owns 2,329 shares of the company’s stock worth $568,000 after buying an additional 349 shares in the last quarter. Lyell Wealth Management LP acquired a new stake in shares of Trane Technologies during the fourth quarter worth approximately $206,000. Bailard Inc. grew its position in shares of Trane Technologies by 8.8% during the fourth quarter. Bailard Inc. now owns 53,320 shares of the company’s stock worth $13,005,000 after buying an additional 4,304 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Trane Technologies by 14.0% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,545 shares of the company’s stock worth $1,352,000 after purchasing an additional 680 shares during the period. Finally, Atria Wealth Solutions Inc. boosted its holdings in Trane Technologies by 8.8% in the fourth quarter. Atria Wealth Solutions Inc. now owns 13,743 shares of the company’s stock worth $3,353,000 after purchasing an additional 1,109 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

TT has been the subject of a number of research reports. The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Citigroup lifted their price objective on shares of 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 shares of Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Royal Bank of Canada lifted their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Finally, Stephens boosted their price target on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $251.83.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,767 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were 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 $14,700,168.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,767 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were 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 $14,700,168.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Keith A. Sultana sold 1,637 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $267.74, for a total transaction of $438,290.38. Following the completion of the sale, the senior vice president now owns 42,374 shares in the company, valued at $11,345,214.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,874 shares of company stock worth $8,462,825. 0.39% of the stock is owned by corporate insiders.

Trane Technologies Stock Performance

Shares of NYSE TT traded up $5.16 during midday trading on Friday, reaching $304.53. 961,790 shares of the company traded hands, compared to its average volume of 833,800. Trane Technologies plc has a 52 week low of $162.04 and a 52 week high of $306.98. The stock has a 50-day moving average price of $292.22 and a 200 day moving average price of $254.25. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. The company has a market cap of $69.15 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.53 and a beta of 1.05.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data 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. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The business had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same period in the previous year, the business earned $1.82 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. Sell-side analysts anticipate that Trane Technologies plc will post 10.2 earnings per share 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. Shareholders of record on Friday, June 7th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 38.23%.

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.