M&T Bank Corp lessened its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 103,708 shares of the company's stock after selling 1,671 shares during the quarter. M&T Bank Corp's holdings in Trane Technologies were worth $38,305,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the stock. Assetmark Inc. increased its position in Trane Technologies by 3.5% during the 4th quarter. Assetmark Inc. now owns 19,459 shares of the company's stock worth $7,187,000 after purchasing an additional 658 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Trane Technologies by 38.4% during the fourth quarter. Victory Capital Management Inc. now owns 262,357 shares of the company's stock worth $96,902,000 after buying an additional 72,853 shares in the last quarter. Keybank National Association OH raised its position in shares of Trane Technologies by 3.1% in the fourth quarter. Keybank National Association OH now owns 27,884 shares of the company's stock valued at $10,299,000 after buying an additional 831 shares during the last quarter. Exencial Wealth Advisors LLC lifted its stake in shares of Trane Technologies by 11.7% during the fourth quarter. Exencial Wealth Advisors LLC now owns 2,626 shares of the company's stock valued at $970,000 after buying an additional 276 shares during the period. Finally, Commerzbank Aktiengesellschaft FI boosted its position in Trane Technologies by 55.0% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 1,333 shares of the company's stock worth $495,000 after acquiring an additional 473 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.
Wall Street Analyst Weigh In
TT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on Trane Technologies from $387.00 to $396.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. UBS Group cut their price target on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Melius Research reaffirmed a "hold" rating and issued a $398.00 price objective on shares of Trane Technologies in a research note on Tuesday, January 28th. Royal Bank of Canada increased 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 report on Friday, January 3rd. Finally, Barclays lifted their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. One investment 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's stock. According to MarketBeat, Trane Technologies currently has an average rating of "Hold" and a consensus target price of $415.25.
Get Our Latest Stock Analysis on TT
Insider Activity at Trane Technologies
In other news, CEO David S. Regnery sold 2,754 shares of Trane Technologies 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 transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 770 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the sale, the chief financial officer now owns 62,221 shares of the company's stock, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock worth $2,588,102 in the last 90 days. Corporate insiders own 0.38% of the company's stock.
Trane Technologies Stock Performance
Shares of TT traded up $5.58 during mid-day trading on Wednesday, hitting $348.78. The stock had a trading volume of 1,915,850 shares, compared to its average volume of 1,606,894. The company has a market cap of $78.23 billion, a PE ratio of 31.00, a PEG ratio of 2.50 and a beta of 1.08. The company's fifty day simple moving average is $369.25 and its two-hundred day simple moving average is $380.46. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a fifty-two week low of $279.00 and a fifty-two week high of $422.00.
Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, equities analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.
Trane Technologies Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 annualized dividend and a yield of 1.08%. This is an increase from Trane Technologies's previous quarterly dividend of $0.84. Trane Technologies's dividend payout ratio is presently 29.87%.
About Trane Technologies
(
Free Report)
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.
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