Fulton Bank N.A. Buys 309 Shares of Trane Technologies plc (NYSE:TT)

Fulton Bank N.A. grew its stake in shares of Trane Technologies plc (NYSE:TT) by 9.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,427 shares of the company’s stock after buying an additional 309 shares during the period. Fulton Bank N.A.’s holdings in Trane Technologies were worth $1,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC raised its position in shares of Trane Technologies by 138.0% during the first quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock valued at $2,001,000 after buying an additional 3,866 shares during the last quarter. Nordea Investment Management AB increased its position in Trane Technologies by 3.0% in the first quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock worth $135,796,000 after purchasing an additional 13,078 shares during the last quarter. Sei Investments Co. increased its position in Trane Technologies by 379.2% in the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock worth $91,909,000 after purchasing an additional 242,271 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Trane Technologies in the fourth quarter worth $3,086,000. Finally, Capital World Investors increased its position in Trane Technologies by 0.6% in the fourth quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after purchasing an additional 11,930 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the sale, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the sale, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the sale, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Trane Technologies Stock Up 2.8 %

NYSE:TT traded up $8.70 during mid-day trading on Tuesday, reaching $322.91. The company’s stock had a trading volume of 1,295,469 shares, compared to its average volume of 1,138,532. Trane Technologies plc has a 1 year low of $184.02 and a 1 year high of $351.41. The stock has a fifty day moving average of $331.08 and a 200-day moving average of $307.40. The firm has a market capitalization of $72.87 billion, a PE ratio of 34.50, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same period in the prior year, the firm earned $2.68 earnings per share. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. Equities research analysts forecast that Trane Technologies plc will post 10.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Wall Street Analysts Forecast Growth

TT has been the topic of several research reports. The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. UBS Group boosted their price objective on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Citigroup boosted their price objective on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $310.00 to $315.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $323.29.

Trane Technologies Company 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.