Heritage Trust Co Takes $945,000 Position in Trane Technologies plc (NYSE:TT)

Heritage Trust Co acquired a new stake in Trane Technologies plc (NYSE:TT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,558 shares of the company's stock, valued at approximately $945,000.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Trane Technologies in the fourth quarter valued at about $1,117,816,000. Raymond James Financial Inc. acquired a new stake in Trane Technologies in the fourth quarter valued at about $611,322,000. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Trane Technologies by 455.2% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company's stock valued at $167,977,000 after purchasing an additional 350,277 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Trane Technologies by 42.9% during the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock valued at $361,874,000 after acquiring an additional 293,916 shares in the last quarter. Finally, Caisse Des Depots ET Consignations bought a new position in Trane Technologies in the fourth quarter valued at about $98,560,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Activity at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of the business'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 transaction, the chief financial officer now owns 63,841 shares of the company's stock, valued at approximately $22,818,050.22. The trade was a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David S. Regnery sold 2,754 shares of the firm's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now directly owns 132,969 shares of the company's stock, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock valued at $2,588,102 over the last 90 days. Insiders own 0.38% of the company's stock.

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Trane Technologies Stock Down 1.1 %

NYSE TT traded down $3.80 during mid-day trading on Tuesday, hitting $343.69. The company's stock had a trading volume of 1,062,294 shares, compared to its average volume of 1,288,933. 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's 50 day simple moving average is $346.92 and its 200 day simple moving average is $376.13. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00. The firm has a market capitalization of $77.09 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. Trane Technologies's dividend payout ratio is presently 33.42%.

Analyst Ratings Changes

Several brokerages have issued reports on TT. Barclays decreased their price target on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Melius downgraded Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective for the company. in a research report on Tuesday, January 28th. Melius Research reiterated a "hold" rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. JPMorgan Chase & Co. dropped their price target on shares of Trane Technologies from $396.00 to $323.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company decreased their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $405.31.

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.