Peapack Gladstone Financial Corp Has $38.77 Million Holdings in Trane Technologies plc (NYSE:TT)

Peapack Gladstone Financial Corp boosted its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 3.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,734 shares of the company's stock after purchasing an additional 3,313 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Trane Technologies were worth $38,770,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in TT. MidAtlantic Capital Management Inc. bought a new stake in shares of Trane Technologies in the third quarter valued at approximately $27,000. DT Investment Partners LLC acquired a new position in shares of Trane Technologies in the third quarter valued at $36,000. Pittenger & Anderson Inc. acquired a new position in shares of Trane Technologies in the third quarter valued at $39,000. Legacy Investment Solutions LLC acquired a new position in shares of Trane Technologies in the third quarter valued at $44,000. Finally, Triad Wealth Partners LLC acquired a new position in shares of Trane Technologies in the second quarter valued at $39,000. Institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

TT has been the subject of a number of recent research reports. Barclays upped their target price on Trane Technologies from $440.00 to $500.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Wells Fargo & Company increased their price objective on Trane Technologies from $320.00 to $360.00 and gave the stock an "underweight" rating in a research note on Monday, October 7th. Morgan Stanley assumed coverage on Trane Technologies in a research note on Friday, September 6th. They set an "overweight" rating and a $425.00 price objective for the company. Mizuho increased their price objective on Trane Technologies from $325.00 to $400.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Finally, Citigroup increased their price objective on Trane Technologies from $457.00 to $478.00 and gave the stock a "buy" rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Trane Technologies presently has a consensus rating of "Hold" and a consensus target price of $409.93.

Trane Technologies Stock Performance

TT traded down $0.30 during trading hours on Friday, reaching $399.36. The company's stock had a trading volume of 852,556 shares, compared to its average volume of 1,116,655. The firm has a market cap of $89.87 billion, a PE ratio of 37.07, a price-to-earnings-growth ratio of 2.43 and a beta of 1.03. Trane Technologies plc has a 52 week low of $233.76 and a 52 week high of $422.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The company's 50-day moving average is $401.83 and its 200-day moving average is $363.86.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.14. The business 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 was up 10.0% compared to the same quarter last year. During the same period last year, the firm posted $2.79 earnings per share. On average, equities analysts forecast that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

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

Insider Activity

In other news, SVP Mairead Magner sold 4,329 shares of the firm's stock in a transaction dated 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 directly owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.38% of the company's stock.

Trane Technologies Profile

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.