M&T Bank Corp Sells 1,720 Shares of Trane Technologies plc (NYSE:TT)

M&T Bank Corp reduced its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 1.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 105,379 shares of the company's stock after selling 1,720 shares during the quarter. M&T Bank Corp's holdings in Trane Technologies were worth $40,964,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its stake in Trane Technologies by 4.0% in the third quarter. FMR LLC now owns 10,337,672 shares of the company's stock worth $4,018,563,000 after acquiring an additional 397,537 shares during the period. State Street Corp raised its holdings in Trane Technologies by 0.8% in the 3rd quarter. State Street Corp now owns 9,769,161 shares of the company's stock worth $3,797,565,000 after purchasing an additional 77,830 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Trane Technologies by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company's stock worth $1,797,700,000 after purchasing an additional 65,991 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company's stock valued at $991,460,000 after purchasing an additional 671,691 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Trane Technologies by 0.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company's stock valued at $832,691,000 after buying an additional 20,151 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Buying and Selling at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the business's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the sale, the senior vice president now owns 12,893 shares of the company's stock, valued at $5,363,488. The trade was a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.38% of the company's stock.

Trane Technologies Stock Up 0.1 %

Shares of TT traded up $0.21 on Friday, hitting $377.11. 2,642,930 shares of the stock traded hands, compared to its average volume of 1,127,064. The company has a market capitalization of $84.86 billion, a PE ratio of 34.98, a P/E/G ratio of 2.43 and a beta of 1.03. The business has a 50 day simple moving average of $400.91 and a 200 day simple moving average of $366.69. Trane Technologies plc has a one year low of $233.76 and a one year 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.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. The company had revenue of $5.44 billion for the quarter, compared to analysts' expectations of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company posted $2.79 earnings per share. As a group, equities analysts forecast that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.89%. Trane Technologies's payout ratio is 31.17%.

Wall Street Analysts Forecast Growth

TT has been the topic of several research reports. Hsbc Global Res cut Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. Barclays lifted their price target on Trane Technologies from $440.00 to $500.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Mizuho increased their price objective on Trane Technologies from $325.00 to $400.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the company an "underweight" rating in a report on Monday, October 7th. Finally, Citigroup increased their price target on shares of Trane Technologies from $457.00 to $478.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. One 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $409.93.

Trane Technologies Company 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.