Trane Technologies plc (NYSE:TT) Stake Lessened by M&T Bank Corp

M&T Bank Corp cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 1.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 105,379 shares of the company’s stock after selling 1,720 shares during the quarter. M&T Bank Corp’s holdings in Trane Technologies were worth $40,964,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. TCW Group Inc. increased its position in Trane Technologies by 24.9% in the 3rd quarter. TCW Group Inc. now owns 39,918 shares of the company’s stock worth $15,517,000 after purchasing an additional 7,968 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in Trane Technologies by 7.1% in the third quarter. TD Private Client Wealth LLC now owns 1,007 shares of the company’s stock worth $391,000 after buying an additional 67 shares during the last quarter. Virtue Capital Management LLC raised its position in Trane Technologies by 26.9% during the third quarter. Virtue Capital Management LLC now owns 1,214 shares of the company’s stock valued at $472,000 after acquiring an additional 257 shares in the last quarter. Coldstream Capital Management Inc. grew its position in Trane Technologies by 10.0% in the third quarter. Coldstream Capital Management Inc. now owns 5,146 shares of the company’s stock worth $2,012,000 after acquiring an additional 466 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Trane Technologies by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock worth $1,797,700,000 after purchasing an additional 65,991 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 0.1 %

TT stock opened at $377.11 on Friday. Trane Technologies plc has a twelve month low of $233.76 and a twelve month high of $422.00. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The company has a market cap of $84.86 billion, a PE ratio of 34.98, a price-to-earnings-growth ratio of 2.43 and a beta of 1.03. The business’s 50-day simple moving average is $400.91 and its 200 day simple moving average is $366.36.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. The company had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. Trane Technologies’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.79 EPS. On average, research analysts anticipate that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is 31.17%.

Insider Activity

In related news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Barclays upped their price target on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a report on Thursday, October 31st. Morgan Stanley initiated coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. Finally, Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $409.93.

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.