Trane Technologies plc $TT Shares Sold by First National Trust Co

First National Trust Co lowered its position in Trane Technologies plc (NYSE:TT) by 2.0% during the second quarter, Holdings Channel.com reports. The fund owned 1,502 shares of the company’s stock after selling 30 shares during the quarter. First National Trust Co’s holdings in Trane Technologies were worth $657,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Purkiss Capital Advisors LLC boosted its holdings in Trane Technologies by 4.2% in the second quarter. Purkiss Capital Advisors LLC now owns 688 shares of the company’s stock valued at $301,000 after acquiring an additional 28 shares during the last quarter. Clark Asset Management LLC purchased a new position in Trane Technologies in the second quarter valued at about $1,319,000. Tevis Investment Management raised its position in Trane Technologies by 16.1% in the second quarter. Tevis Investment Management now owns 972 shares of the company’s stock valued at $425,000 after purchasing an additional 135 shares during the period. May Hill Capital LLC purchased a new position in Trane Technologies in the second quarter valued at about $227,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in Trane Technologies by 7.2% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 3,935 shares of the company’s stock valued at $1,721,000 after purchasing an additional 263 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.2%

Shares of NYSE TT opened at $427.25 on Wednesday. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. The firm has a market cap of $95.07 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 2.66 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. The stock’s 50-day simple moving average is $416.32 and its 200-day simple moving average is $416.93.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.79 by $0.09. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same period in the previous year, the company earned $3.30 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s payout ratio is presently 29.82%.

Wall Street Analysts Forecast Growth

Several research firms have commented on TT. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Wells Fargo & Company raised their price objective on Trane Technologies from $410.00 to $415.00 and gave the company an “underweight” rating in a research report on Monday, October 6th. JPMorgan Chase & Co. raised their price objective on Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. The Goldman Sachs Group raised their price objective on Trane Technologies from $416.00 to $460.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Finally, Northcoast Research lowered Trane Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, August 1st. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and an average target price of $464.29.

Insiders Place Their Bets

In related news, CEO David S. Regnery sold 22,497 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total value of $9,223,770.00. Following the completion of the sale, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at $50,722,330. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by corporate insiders.

About Trane Technologies

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.