Sanibel Captiva Trust Company Inc. Sells 150 Shares of Trane Technologies plc (NYSE:TT)

Sanibel Captiva Trust Company Inc. cut its position in Trane Technologies plc (NYSE:TT) by 13.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 947 shares of the company’s stock after selling 150 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Trane Technologies were worth $319,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TT. Norges Bank bought a new stake in shares of Trane Technologies in the fourth quarter valued at $1,117,816,000. GAMMA Investing LLC grew its position in shares of Trane Technologies by 35,458.2% in the first quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company’s stock valued at $679,161,000 after purchasing an additional 2,010,123 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Trane Technologies in the fourth quarter valued at $611,322,000. Northern Trust Corp grew its position in shares of Trane Technologies by 20.1% in the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock valued at $948,316,000 after purchasing an additional 429,953 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Trane Technologies in the fourth quarter valued at $147,251,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lifted their price target on Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a research report on Thursday, May 1st. Hsbc Global Res upgraded Trane Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Citigroup boosted their target price on Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. UBS Group boosted their target price on Trane Technologies from $470.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Finally, Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 target price for the company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $427.47.

Trane Technologies Price Performance

TT opened at $422.93 on Thursday. The stock has a 50-day moving average price of $388.43 and a 200-day moving average price of $376.92. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $436.61. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $94.32 billion, a P/E ratio of 37.59, a PEG ratio of 2.50 and a beta of 1.16.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the previous year, the company posted $1.94 EPS. Trane Technologies’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend yield of 0.89%. The ex-dividend date is Friday, September 5th. Trane Technologies’s dividend payout ratio (DPR) is presently 31.28%.

Insider Activity

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the transaction, the insider now owns 3,593 shares of the company’s stock, valued at $1,365,340. This represents a 49.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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.