MidFirst Bank Purchases New Holdings in Trane Technologies plc $TT

MidFirst Bank purchased a new stake in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,436 shares of the company’s stock, valued at approximately $559,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fiduciary Family Office LLC grew its stake in shares of Trane Technologies by 1.5% in the fourth quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company’s stock valued at $612,000 after buying an additional 23 shares in the last quarter. Foster Dykema Cabot & Partners LLC lifted its stake in Trane Technologies by 10.6% in the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company’s stock valued at $93,000 after acquiring an additional 23 shares during the last quarter. Bridgewater Advisors Inc. lifted its stake in Trane Technologies by 3.7% in the third quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock valued at $285,000 after acquiring an additional 24 shares during the last quarter. West Family Investments Inc. grew its position in shares of Trane Technologies by 2.3% in the 3rd quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock valued at $452,000 after acquiring an additional 24 shares during the period. Finally, Cresset Asset Management LLC increased its stake in shares of Trane Technologies by 0.3% during the 3rd quarter. Cresset Asset Management LLC now owns 7,012 shares of the company’s stock worth $2,959,000 after purchasing an additional 24 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares in the company, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the sale, the chief financial officer owned 60,576 shares of the company’s stock, valued at $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Trane Technologies Stock Up 0.1%

TT stock opened at $483.88 on Friday. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $503.47. The business has a 50-day simple moving average of $467.88 and a 200 day simple moving average of $435.22. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The company has a market cap of $106.96 billion, a PE ratio of 37.42, a price-to-earnings-growth ratio of 2.23 and a beta of 1.20.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same period in the prior year, the company posted $2.45 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Sell-side analysts anticipate that Trane Technologies plc will post 14.88 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a dividend of $1.05 per share. The ex-dividend date is Friday, September 4th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 32.48%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada raised their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Evercore started coverage on Trane Technologies in a research report on Monday, April 13th. They set an “outperform” rating and a $535.00 price target on the stock. Citigroup upped their price objective on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Sanford C. Bernstein started coverage on Trane Technologies in a research note on Tuesday, June 9th. They set an “outperform” rating and a $550.00 target price for the company. Finally, KeyCorp boosted their target price on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $509.12.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.