AMG National Trust Bank Sells 500 Shares of Trane Technologies plc (NYSE:TT)

AMG National Trust Bank lowered its position in Trane Technologies plc (NYSE:TT) by 4.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,200 shares of the company’s stock after selling 500 shares during the quarter. AMG National Trust Bank’s holdings in Trane Technologies were worth $3,767,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TT. MidAtlantic Capital Management Inc. purchased a new stake in shares of Trane Technologies during the 3rd quarter valued at about $27,000. Global Wealth Strategies & Associates purchased a new stake in shares of Trane Technologies during the 4th quarter valued at about $26,000. Sound Income Strategies LLC raised its position in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Trane Technologies during the 4th quarter valued at about $39,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Trane Technologies during the 3rd quarter valued at about $44,000. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on TT shares. UBS Group decreased their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Melius Research reissued a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Wells Fargo & Company reduced their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Finally, Citigroup reduced their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $415.25.

Insider Activity

In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of the firm’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 sale, the senior vice president now directly owns 20,513 shares in the company, valued at $7,346,115.56. This trade represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,234 shares of company stock worth $2,588,102. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $342.02 on Friday. The firm has a market cap of $76.71 billion, a PE ratio of 30.40, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The firm’s 50 day simple moving average is $368.53 and its 200-day simple moving average is $380.20. Trane Technologies plc has a one year low of $279.00 and a one year high of $422.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, equities analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.10%. Trane Technologies’s dividend payout ratio (DPR) is currently 29.87%.

Trane Technologies 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.