Wilmington Savings Fund Society FSB Cuts Position in Trane Technologies plc (NYSE:TT)

Wilmington Savings Fund Society FSB lowered its holdings in Trane Technologies plc (NYSE:TT) by 0.5% during the 4th quarter, Holdings Channel reports. The firm owned 10,019 shares of the company’s stock after selling 55 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Trane Technologies were worth $3,701,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in TT. MidAtlantic Capital Management Inc. purchased a new stake in shares of Trane Technologies during the 3rd quarter worth approximately $27,000. Global Wealth Strategies & Associates purchased a new position in shares of Trane Technologies during the 4th quarter valued at $26,000. DT Investment Partners LLC purchased a new stake in Trane Technologies in the 3rd quarter worth about $36,000. Sound Income Strategies LLC lifted its holdings in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after purchasing an additional 92 shares during the last quarter. Finally, Pittenger & Anderson Inc. purchased a new position in shares of Trane Technologies in the third quarter worth about $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value 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 approximately $5,363,488. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,157 shares of company stock worth $3,168,885. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of analyst reports. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Citigroup dropped their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Melius Research reissued a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, UBS Group cut their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 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. According to data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average target price of $415.25.

Trane Technologies Stock Performance

Shares of TT opened at $356.07 on Friday. Trane Technologies plc has a 52 week low of $265.37 and a 52 week high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The stock has a market cap of $80.12 billion, a P/E ratio of 31.65, a P/E/G ratio of 2.44 and a beta of 1.05. The business’s 50 day moving average price is $383.65 and its 200-day moving average price is $377.09.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share 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%. Equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.06%. Trane Technologies’s dividend payout ratio is 29.87%.

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.