Fulton Bank NA Makes New Investment in Trane Technologies plc (NYSE:TT)

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Trane Technologies logoFulton Bank NA purchased a new stake in shares of Trane Technologies plc (NYSE:TT – Get Rating) during the 4th quarter, HoldingsChannel reports. The firm purchased 2,121 shares of the company’s stock, valued at approximately $357,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bartlett & Co. LLC lifted its stake in shares of Trane Technologies by 155.4% in the fourth quarter. Bartlett & Co. LLC now owns 189 shares of the company’s stock worth $32,000 after buying an additional 115 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in shares of Trane Technologies by 3.1% in the 3rd quarter. Perigon Wealth Management LLC now owns 2,981 shares of the company’s stock valued at $432,000 after purchasing an additional 91 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Trane Technologies by 48.2% in the third quarter. Bank of New York Mellon Corp now owns 5,366,040 shares of the company’s stock valued at $777,057,000 after acquiring an additional 1,745,741 shares during the last quarter. Robeco Institutional Asset Management BV lifted its position in Trane Technologies by 76.7% in the third quarter. Robeco Institutional Asset Management BV now owns 969,287 shares of the company’s stock valued at $140,362,000 after acquiring an additional 420,747 shares during the last quarter. Finally, Toroso Investments LLC lifted its position in Trane Technologies by 5.0% in the third quarter. Toroso Investments LLC now owns 4,802 shares of the company’s stock valued at $695,000 after acquiring an additional 229 shares during the last quarter. Institutional investors and hedge funds own 81.47% of the company’s stock.

Trane Technologies Stock Performance

TT stock opened at $177.53 on Friday. The company has a market capitalization of $40.67 billion, a P/E ratio of 23.70, a PEG ratio of 2.19 and a beta of 1.00. The company has a 50-day simple moving average of $181.96 and a 200-day simple moving average of $169.74. Trane Technologies plc has a fifty-two week low of $120.64 and a fifty-two week high of $196.22. The company has a quick ratio of 0.77, a current ratio of 1.12 and a debt-to-equity ratio of 0.62.

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Trane Technologies (NYSE:TT – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.18. Trane Technologies has a return on equity of 29.14% and a net margin of 10.98%. The firm had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the previous year, the company earned $1.36 EPS. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. Sell-side analysts predict that Trane Technologies plc will post 8.34 earnings per share for the current fiscal year.

Trane Technologies Increases Dividends

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 3rd will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, March 2nd. This is a positive change from Trane Technologies’ previous quarterly dividend of $0.67. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.69%. Trane Technologies’s payout ratio is 40.05%.

Insider Transactions at Trane Technologies

In other news, EVP Raymond D. Pittard sold 23,003 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $170.42, for a total transaction of $3,920,171.26. Following the completion of the transaction, the executive vice president now directly owns 87,718 shares in the company, valued at $14,948,901.56. The sale was disclosed in a filing with the SEC, which can be accessed via this link. In related news, SVP Evan M. Turtz sold 2,095 shares of the company’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $190.83, for a total value of $399,788.85. Following the completion of the transaction, the senior vice president now directly owns 19,601 shares in the company, valued at $3,740,458.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via the SEC website. Also, EVP Raymond D. Pittard sold 23,003 shares of the company’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $170.42, for a total value of $3,920,171.26. Following the completion of the transaction, the executive vice president now owns 87,718 shares of the company’s stock, valued at $14,948,901.56. The disclosure for this sale can be found here. Insiders sold a total of 38,970 shares of company stock worth $6,927,921 over the last three months. 0.74% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TT. Deutsche Bank Aktiengesellschaft increased their price target on shares of Trane Technologies from $170.00 to $184.00 in a research note on Friday, February 3rd. Bank of America cut shares of Trane Technologies from a “neutral” rating to an “underperform” rating and set a $160.00 price target for the company. in a research note on Monday, December 12th. Mizuho upped their price objective on shares of Trane Technologies from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, February 3rd. Morgan Stanley increased their price target on shares of Trane Technologies from $193.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Finally, UBS Group raised their target price on shares of Trane Technologies from $200.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, March 7th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $183.78.

About Trane Technologies

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Trane Technologies Plc is engaged in providing solutions to buildings, homes, and transportation. It operates through the following business segments: Americas, EMEA, and Asia Pacific. The Americas segment includes commercial heating and cooling systems, building controls, and energy services and solutions, residential heating and cooling, and transport refrigeration systems, and solutions in North America and Latin America regions.

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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