Community Bank N.A. Acquires Shares of 158 Trane Technologies plc (NYSE:TT)

Community Bank N.A. bought a new stake in Trane Technologies plc (NYSE:TT) during the 1st quarter, Holdings Channel reports. The firm bought 158 shares of the company’s stock, valued at approximately $53,000.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new position in Trane Technologies in the 4th quarter valued at $1,117,816,000. GAMMA Investing LLC lifted its stake in shares of Trane Technologies by 35,458.2% in the 1st quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company’s stock worth $679,161,000 after acquiring an additional 2,010,123 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Trane Technologies in the fourth quarter valued at about $611,322,000. Northern Trust Corp increased its stake in shares of Trane Technologies by 20.1% during the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock worth $948,316,000 after acquiring an additional 429,953 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Trane Technologies during the fourth quarter worth about $147,251,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, insider Donald E. Simmons sold 3,571 shares of the company’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the sale, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TT shares. Barclays lowered their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Citigroup lifted their price target on Trane Technologies from $415.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Royal Bank Of Canada increased their price objective on Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. boosted their target price on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Finally, UBS Group upped their price target on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $427.47.

Trane Technologies Trading Down 0.6%

NYSE:TT opened at $419.63 on Thursday. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $436.61. The company has a quick ratio of 0.74, a current ratio of 1.09 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $398.05 and a 200-day simple moving average of $377.14. The company has a market capitalization of $93.59 billion, a PE ratio of 34.91, a price-to-earnings-growth ratio of 2.77 and a beta of 1.16.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.25. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.94 earnings per share. On average, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Friday, September 5th. Trane Technologies’s payout ratio is currently 31.28%.

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.