City Holding Co. Purchases 66 Shares of Trane Technologies plc (NYSE:TT)

City Holding Co. raised its position in Trane Technologies plc (NYSE:TT) by 0.4% in the 1st quarter, Holdings Channel reports. The firm owned 15,818 shares of the company’s stock after buying an additional 66 shares during the quarter. City Holding Co.’s holdings in Trane Technologies were worth $5,329,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TT. Brighton Jones LLC grew its position in Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after buying an additional 2,323 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of Trane Technologies in the 4th quarter worth $39,000. Apollon Wealth Management LLC increased its holdings in shares of Trane Technologies by 11.2% in the 4th quarter. Apollon Wealth Management LLC now owns 9,594 shares of the company’s stock worth $3,544,000 after buying an additional 964 shares during the last quarter. Empowered Funds LLC raised its position in shares of Trane Technologies by 136.0% during the 4th quarter. Empowered Funds LLC now owns 49,638 shares of the company’s stock valued at $18,334,000 after buying an additional 28,604 shares in the last quarter. Finally, Entropy Technologies LP lifted its holdings in shares of Trane Technologies by 11.4% during the 4th quarter. Entropy Technologies LP now owns 11,738 shares of the company’s stock worth $4,335,000 after acquiring an additional 1,200 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the sale, the insider now directly owns 3,593 shares of the company’s stock, valued at approximately $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. HSBC raised Trane Technologies from a “hold” rating to a “buy” rating and increased their target price for the company from $405.00 to $415.00 in a research note on Friday, April 25th. Royal Bank of Canada upped their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the company a “sector perform” rating in a research note on Thursday, May 1st. Wells Fargo & Company lifted their target price on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an “underweight” rating in a research report on Thursday, May 1st. Stephens raised shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target for the company in a research note on Thursday, May 1st. Finally, UBS Group raised their price objective on Trane Technologies from $470.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $427.47.

Trane Technologies Stock Down 0.4%

NYSE TT opened at $428.93 on Monday. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $436.61. The stock has a market capitalization of $95.66 billion, a PE ratio of 38.13, a PEG ratio of 2.50 and a beta of 1.16. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The business’s 50-day moving average is $382.93 and its 200 day moving average is $376.21.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the company earned $1.94 EPS. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. Sell-side analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.88%. The ex-dividend date is Friday, September 5th. Trane Technologies’s dividend payout ratio (DPR) is currently 31.28%.

About Trane Technologies

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.