Colonial Trust Co SC Purchases 481 Shares of Trane Technologies plc (NYSE:TT)

Colonial Trust Co SC lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,634 shares of the company’s stock after purchasing an additional 481 shares during the quarter. Colonial Trust Co SC’s holdings in Trane Technologies were worth $5,405,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Trane Technologies during the 4th quarter valued at approximately $1,117,816,000. Raymond James Financial Inc. bought a new position in shares of Trane Technologies in the fourth quarter worth $611,322,000. Northern Trust Corp raised its stake in 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. BNP Paribas Financial Markets bought a new stake in Trane Technologies during the fourth quarter valued at approximately $137,999,000. Finally, Bank Julius Baer & Co. Ltd Zurich grew its stake in Trane Technologies by 455.2% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock worth $167,977,000 after buying an additional 350,277 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 1.0 %

NYSE:TT opened at $406.94 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The firm has a market cap of $90.76 billion, a P/E ratio of 36.17, a P/E/G ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $422.00. The firm has a 50-day simple moving average of $346.56 and a two-hundred day simple moving average of $372.09.

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

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Friday, June 6th. Trane Technologies’s payout ratio is currently 31.28%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the completion of the transaction, the senior vice president now directly owns 20,513 shares in the company, valued at $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $1,356,980.00. Following the completion of the transaction, the insider now directly owns 3,593 shares of the company’s stock, valued at $1,365,340. This represents a 49.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,977 shares of company stock valued at $2,577,061. 0.38% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TT has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a report on Thursday, May 1st. Melius Research reaffirmed a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a research note on Tuesday, January 28th. Hsbc Global Res raised Trane Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Citigroup raised their target price on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Finally, Stephens raised shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target on the stock in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $421.07.

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.