Field & Main Bank Purchases New Holdings in Trane Technologies plc $TT

Field & Main Bank purchased a new stake in Trane Technologies plc (NYSE:TT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 228 shares of the company’s stock, valued at approximately $100,000.

Other large investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new position in Trane Technologies during the 2nd quarter valued at $28,000. Hantz Financial Services Inc. boosted its stake in Trane Technologies by 1,016.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after acquiring an additional 61 shares during the last quarter. Saudi Central Bank bought a new position in Trane Technologies during the 1st quarter valued at $30,000. Bogart Wealth LLC boosted its stake in Trane Technologies by 97.9% during the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company’s stock valued at $31,000 after acquiring an additional 46 shares during the last quarter. Finally, Olde Wealth Management LLC bought a new position in Trane Technologies during the 1st quarter valued at $37,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on TT shares. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and increased their price objective for the company from $415.00 to $460.00 in a research note on Thursday, July 31st. Royal Bank Of Canada raised their price target on shares of Trane Technologies from $463.00 to $467.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 31st. The Goldman Sachs Group raised their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Barclays reduced their price target on shares of Trane Technologies from $495.00 to $485.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 16th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $464.29.

Trane Technologies Stock Up 0.1%

Trane Technologies stock opened at $426.66 on Thursday. The stock has a market cap of $94.94 billion, a price-to-earnings ratio of 33.84, a PEG ratio of 2.65 and a beta of 1.12. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $416.34 and its two-hundred day moving average price is $417.50. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.79 by $0.09. The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.30 EPS. On average, analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, December 5th. Trane Technologies’s dividend payout ratio (DPR) is presently 29.82%.

Insiders Place Their Bets

In related news, CEO David S. Regnery sold 22,497 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the completion of the sale, the chief executive officer directly owned 123,713 shares in the company, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

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.