M&T Bank Corp Sells 75,241 Shares of Trane Technologies plc $TT

M&T Bank Corp cut its stake in Trane Technologies plc (NYSE:TT) by 80.0% during the fourth quarter, HoldingsChannel reports. The fund owned 18,762 shares of the company’s stock after selling 75,241 shares during the quarter. M&T Bank Corp’s holdings in Trane Technologies were worth $7,302,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in TT. Financial Consulate Inc. bought a new position in Trane Technologies in the third quarter worth about $25,000. United Community Bank boosted its holdings in shares of Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after buying an additional 43 shares in the last quarter. JPL Wealth Management LLC purchased a new position in shares of Trane Technologies in the 3rd quarter worth approximately $32,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Trane Technologies during the 3rd quarter worth approximately $42,000. Finally, Halbert Hargrove Global Advisors LLC lifted its position in Trane Technologies by 34.2% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after acquiring an additional 26 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Transactions at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the transaction, the chief financial officer owned 60,576 shares in the company, valued at $27,259,200. This trade represents a 12.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elizabeth A. Elwell sold 635 shares of Trane Technologies stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $268,414.50. Following the sale, the chief accounting officer directly owned 7,100 shares of the company’s stock, valued at approximately $3,001,170. This represents a 8.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 57,997 shares of company stock worth $25,107,014. Insiders own 0.14% of the company’s stock.

Trane Technologies Stock Up 0.3%

TT stock opened at $486.88 on Friday. The stock has a market capitalization of $107.76 billion, a PE ratio of 37.51, a price-to-earnings-growth ratio of 2.56 and a beta of 1.21. Trane Technologies plc has a 52 week low of $343.09 and a 52 week high of $490.15. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $445.72 and a 200 day moving average of $423.57.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. The business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. Trane Technologies’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.61 EPS. Sell-side analysts forecast that Trane Technologies plc will post 14.76 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, June 5th. Trane Technologies’s dividend payout ratio is presently 32.36%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TT shares. Evercore started coverage on shares of Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 target price for the company. KeyCorp upped their price target on Trane Technologies from $500.00 to $525.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Citigroup increased their price objective on Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a report on Friday, January 30th. Wells Fargo & Company boosted their target price on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research note on Friday, January 30th. Finally, UBS Group reduced their target price on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $492.94.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.