Fifth Third Bancorp increased its holdings in shares of Trane Technologies plc (NYSE:TT – Free Report) by 4.2% in the 1st quarter, HoldingsChannel reports. The firm owned 9,952 shares of the company’s stock after acquiring an additional 401 shares during the period. Fifth Third Bancorp’s holdings in Trane Technologies were worth $3,353,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. WFA Asset Management Corp boosted its position in shares of Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company’s stock valued at $25,000 after buying an additional 50 shares during the last quarter. Minot DeBlois Advisors LLC bought a new stake in shares of Trane Technologies in the fourth quarter valued at $26,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Trane Technologies in the fourth quarter valued at $28,000. Flagship Wealth Advisors LLC bought a new stake in shares of Trane Technologies in the fourth quarter valued at $37,000. Finally, NBC Securities Inc. purchased a new position in shares of Trane Technologies in the first quarter valued at $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the company. Royal Bank of Canada lifted their price target on Trane Technologies from $363.00 to $408.00 and gave the company a “sector perform” rating in a research report on Thursday, May 1st. HSBC upgraded Trane Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $405.00 to $415.00 in a report on Friday, April 25th. Stephens raised Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 target price for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $334.00 to $400.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Finally, UBS Group upped their price target on Trane Technologies from $470.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of “Moderate Buy” and an average price target of $427.47.
Trane Technologies Stock Down 0.8%
TT stock opened at $420.84 on Friday. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $436.61. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The firm has a market cap of $93.85 billion, a PE ratio of 37.41, a price-to-earnings-growth ratio of 2.50 and a beta of 1.16. The business has a 50 day moving average of $392.71 and a 200 day moving average of $376.73.
Trane Technologies (NYSE:TT – Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the business posted $1.94 EPS. The company’s revenue was up 11.2% compared to the same quarter last year. On average, research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.
Trane Technologies Dividend Announcement
The company also recently disclosed 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 dividend yield of 0.89%. The ex-dividend date is Friday, September 5th. Trane Technologies’s payout ratio is currently 31.28%.
Insider Buying and Selling
In related news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction 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 transaction, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is currently owned by corporate insiders.
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.
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