M&T Bank Corp Lowers Holdings in Trane Technologies plc (NYSE:TT)

M&T Bank Corp lowered its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Trust Point Inc. increased its stake in shares of Trane Technologies by 3.1% in the 3rd quarter. Trust Point Inc. now owns 897 shares of the company's stock worth $349,000 after acquiring an additional 27 shares in the last quarter. Cobblestone Capital Advisors LLC NY grew its holdings in Trane Technologies by 1.8% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company's stock worth $579,000 after purchasing an additional 27 shares during the period. First Pacific Financial increased its stake in shares of Trane Technologies by 1.1% during the third quarter. First Pacific Financial now owns 2,674 shares of the company's stock valued at $1,039,000 after purchasing an additional 28 shares in the last quarter. Wescott Financial Advisory Group LLC lifted its holdings in shares of Trane Technologies by 1.7% during the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company's stock valued at $670,000 after purchasing an additional 28 shares during the last quarter. Finally, Greenleaf Trust grew its stake in shares of Trane Technologies by 0.5% in the 3rd quarter. Greenleaf Trust now owns 5,852 shares of the company's stock worth $2,275,000 after buying an additional 29 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Performance

NYSE:TT traded up $0.21 on Friday, hitting $377.11. The stock had a trading volume of 2,642,930 shares, compared to its average volume of 1,127,064. The business's 50-day simple moving average is $400.91 and its two-hundred day simple moving average is $366.36. The stock has a market cap of $84.86 billion, a price-to-earnings ratio of 34.98, 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 quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

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

Trane Technologies Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Robert W. Baird dropped their target price on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Northcoast Research assumed coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They set a "buy" rating and a $500.00 price objective on the stock. HSBC cut shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 target price for the company. in a report on Thursday, October 31st. Barclays increased their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group upped their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $409.93.

Insider Buying and Selling at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the firm'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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is currently owned by corporate 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.