Cambridge Trust Co. Decreases Position in Trane Technologies plc (NYSE:TT)

Cambridge Trust Co. decreased its holdings in shares of Trane Technologies plc (NYSE:TT) by 25.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 560 shares of the company’s stock after selling 191 shares during the quarter. Cambridge Trust Co.’s holdings in Trane Technologies were worth $168,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Cetera Advisors LLC lifted its holdings in shares of Trane Technologies by 85.0% during the first quarter. Cetera Advisors LLC now owns 14,142 shares of the company’s stock worth $4,245,000 after purchasing an additional 6,498 shares during the period. Cetera Investment Advisers lifted its holdings in Trane Technologies by 359.8% in the first quarter. Cetera Investment Advisers now owns 53,323 shares of the company’s stock valued at $16,008,000 after acquiring an additional 41,727 shares during the period. PGGM Investments increased its position in shares of Trane Technologies by 4.1% in the first quarter. PGGM Investments now owns 49,656 shares of the company’s stock valued at $14,907,000 after buying an additional 1,958 shares in the last quarter. Atria Investments Inc increased its position in shares of Trane Technologies by 3.6% in the first quarter. Atria Investments Inc now owns 33,914 shares of the company’s stock valued at $10,181,000 after buying an additional 1,179 shares in the last quarter. Finally, Swedbank AB purchased a new position in shares of Trane Technologies in the first quarter valued at $206,211,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on TT shares. UBS Group raised their price target on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Barclays lifted their price objective on Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a research report on Thursday. Royal Bank of Canada lifted their price objective on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday. Robert W. Baird lifted their price target on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Stephens lifted their price target on Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and an average target price of $321.14.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the transaction, the chief financial officer now owns 61,293 shares in the company, valued at approximately $19,532,240.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the transaction, the chief financial officer now owns 61,293 shares in the company, valued at approximately $19,532,240.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the transaction, the senior vice president now owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Trane Technologies Stock Performance

TT traded down $14.88 during trading on Friday, reaching $318.45. 2,070,074 shares of the company were exchanged, compared to its average volume of 1,336,537. The stock has a market cap of $71.86 billion, a P/E ratio of 34.02, a PEG ratio of 2.50 and a beta of 1.01. The firm has a 50 day moving average of $331.66 and a 200 day moving average of $305.97. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.62. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $351.41.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.68 EPS. On average, sell-side analysts forecast that Trane Technologies plc will post 10.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a dividend of $0.84 per share. The ex-dividend date is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.06%. Trane Technologies’s payout ratio is currently 35.90%.

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.