NBT Bank N A NY Cuts Holdings in Trane Technologies plc (NYSE:TT)

NBT Bank N A NY lowered its stake in Trane Technologies plc (NYSE:TT) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,877 shares of the company’s stock after selling 72 shares during the quarter. Trane Technologies makes up approximately 1.6% of NBT Bank N A NY’s investment portfolio, making the stock its 10th largest position. NBT Bank N A NY’s holdings in Trane Technologies were worth $22,485,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Global Wealth Strategies & Associates acquired a new stake in shares of Trane Technologies in the fourth quarter valued at about $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Trane Technologies in the third quarter valued at about $27,000. Sound Income Strategies LLC increased its position in shares of Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after acquiring an additional 92 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at about $39,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Trane Technologies in the third quarter valued at about $44,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

Trane Technologies stock opened at $344.81 on Monday. Trane Technologies plc has a 12 month low of $279.00 and a 12 month high of $422.00. The stock’s 50 day moving average is $367.96 and its 200-day moving average is $380.61. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $77.34 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Equities research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $0.94 dividend. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s payout ratio is 33.42%.

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the sale, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the sale, the chief financial officer now owns 63,841 shares of the company’s stock, valued at $22,818,050.22. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,234 shares of company stock worth $2,588,102. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TT shares. Wells Fargo & Company lowered their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Citigroup lowered their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Northcoast Research started coverage on Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target on the stock. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research report on Tuesday, January 28th. Finally, UBS Group lowered their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $415.25.

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.