Huntington National Bank Grows Stock Holdings in Trane Technologies plc (NYSE:TT)

Huntington National Bank grew its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 14.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,105 shares of the company's stock after purchasing an additional 771 shares during the period. Huntington National Bank's holdings in Trane Technologies were worth $2,255,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of TT. Global Wealth Strategies & Associates acquired a new stake in shares of Trane Technologies during the fourth quarter valued at about $26,000. Sound Income Strategies LLC increased its holdings in Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock valued at $37,000 after purchasing an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new stake in Trane Technologies in the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC acquired a new position in Trane Technologies during the fourth quarter worth $39,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Trane Technologies during the third quarter worth $44,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TT shares. UBS Group lowered their target price on Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a report on Friday, January 31st. Melius cut shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective for the company. in a report on Tuesday, January 28th. Royal Bank of Canada upped their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research note on Friday, January 3rd. 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. Finally, Melius Research reaffirmed a "hold" rating and set a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Trane Technologies presently has an average rating of "Hold" and a consensus price target of $409.13.

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Insider Buying and Selling

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the transaction, the senior vice president now directly owns 13,401 shares of the company's stock, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through 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 transaction 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 position. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock worth $2,588,102 in the last 90 days. Company insiders own 0.38% of the company's stock.

Trane Technologies Stock Up 8.9 %

NYSE:TT traded up $27.93 during midday trading on Wednesday, hitting $343.14. 1,979,823 shares of the company were exchanged, compared to its average volume of 1,280,043. Trane Technologies plc has a fifty-two week low of $286.32 and a fifty-two week high of $422.00. The company has a market capitalization of $76.96 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. 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 fifty day simple moving average of $347.74 and a 200 day simple moving average of $377.06.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share 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%. As a group, equities analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 1.10%. Trane Technologies's dividend payout ratio (DPR) is 33.42%.

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.