Trane Technologies plc $TT Stock Holdings Lessened by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp trimmed its stake in Trane Technologies plc (NYSE:TT) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,031 shares of the company’s stock after selling 1,313 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Trane Technologies were worth $31,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Trane Technologies by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock worth $7,791,909,000 after purchasing an additional 192,270 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Trane Technologies by 10.2% in the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock worth $6,550,975,000 after buying an additional 1,433,563 shares during the last quarter. Geode Capital Management LLC increased its holdings in Trane Technologies by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock worth $1,964,896,000 after buying an additional 14,179 shares during the last quarter. Norges Bank acquired a new position in Trane Technologies in the fourth quarter worth approximately $1,163,124,000. Finally, Nordea Investment Management AB increased its holdings in Trane Technologies by 2.9% in the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after buying an additional 72,998 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TT. Royal Bank Of Canada increased their price objective on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Citigroup increased their price objective on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. Barclays increased their price objective on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. increased their price objective on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $506.56.

Trane Technologies Trading Up 0.1%

Shares of TT stock opened at $451.68 on Monday. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $503.47. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $455.43 and its two-hundred day moving average is $430.02. The company has a market cap of $99.84 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 2.08 and a beta of 1.20.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter last year, the company posted $2.45 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts predict that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies’s dividend payout ratio (DPR) is 32.48%.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 36,045 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the transaction, the chief executive officer owned 96,948 shares in the company, valued at $40,978,950.12. This trade represents a 27.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the transaction, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 53,654 shares of company stock worth $23,269,523. 0.43% of the stock is currently owned by company insiders.

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.