Texas Capital Bancshares Inc TX Acquires New Position in Trane Technologies plc (NYSE:TT)

Texas Capital Bancshares Inc TX purchased a new stake in Trane Technologies plc (NYSE:TT - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 2,261 shares of the company's stock, valued at approximately $835,000.

Several other large investors have also recently added to or reduced their stakes in TT. Global Wealth Strategies & Associates purchased a new stake in shares of Trane Technologies in the fourth quarter valued at $26,000. Sound Income Strategies LLC raised its holdings 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 buying an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC bought a new position in Trane Technologies in the fourth quarter valued at about $37,000. Golden State Wealth Management LLC bought a new stake in shares of Trane Technologies during the fourth quarter worth $39,000. Finally, BankPlus Trust Department bought a new position in Trane Technologies during the fourth quarter worth about $45,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Price Performance

Shares of TT traded down $10.25 on Wednesday, hitting $333.71. The company's stock had a trading volume of 735,923 shares, compared to its average volume of 1,286,873. 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 debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The company has a 50 day moving average price of $346.65 and a 200 day moving average price of $375.90. The company has a market capitalization of $74.85 billion, a PE ratio of 29.66, a PEG ratio of 2.50 and a beta of 1.08.

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

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's dividend payout ratio is currently 33.42%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TT. Melius Research reiterated a "hold" rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Barclays lowered their price target on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Royal Bank of Canada increased their price objective 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. JPMorgan Chase & Co. dropped their target price on Trane Technologies from $396.00 to $323.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Finally, UBS Group dropped their price objective 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 research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $405.31.

Insider Activity

In related news, SVP Evan M. Turtz sold 318 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the sale, the senior vice president now directly owns 20,513 shares in the company, valued at approximately $7,346,115.56. The trade was a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction of $984,114.36. Following the completion of the transaction, the chief executive officer now directly owns 132,969 shares of the company's stock, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is currently owned by insiders.

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.