Truist Financial Corp Sells 3,566 Shares of Trane Technologies plc (NYSE:TT)

Truist Financial Corp lessened its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 369,823 shares of the company's stock after selling 3,566 shares during the period. Truist Financial Corp owned approximately 0.16% of Trane Technologies worth $136,594,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in TT. International Assets Investment Management LLC lifted its holdings in shares of Trane Technologies by 35,914.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company's stock worth $639,514,000 after acquiring an additional 1,640,569 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Trane Technologies by 35.8% in 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 during the last quarter. FMR LLC lifted its stake in Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company's stock valued at $4,018,563,000 after purchasing an additional 397,537 shares during the last quarter. Nordea Investment Management AB lifted its stake in Trane Technologies by 42.9% in the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock valued at $361,874,000 after purchasing an additional 293,916 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Trane Technologies by 76.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 417,193 shares of the company's stock valued at $162,175,000 after purchasing an additional 181,335 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Trane Technologies Trading Down 1.0 %

Shares of TT traded down $3.81 during trading hours on Thursday, hitting $366.74. 1,140,128 shares of the stock were exchanged, compared to its average volume of 1,495,328. Trane Technologies plc has a fifty-two week low of $274.77 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 business has a 50-day moving average of $376.38 and a 200-day moving average of $379.24. The firm has a market capitalization of $82.26 billion, a P/E ratio of 32.60, a price-to-earnings-growth ratio of 2.48 and a beta of 1.05.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping analysts' consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. On average, research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.03%. This is a boost from Trane Technologies's previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies's dividend payout ratio (DPR) is presently 29.87%.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 770 shares of the firm'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 transaction, the chief financial officer now directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the firm's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the transaction, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,563 shares of company stock worth $4,388,966. 0.38% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TT has been the subject of several research reports. Wells Fargo & Company dropped their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a research note on Friday, January 31st. Melius downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. Royal Bank of Canada upped their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research report on Friday, January 3rd. Melius Research restated a "hold" rating and issued a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Finally, HSBC cut shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 price target for the company. in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $415.25.

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.