Trane Technologies plc (NYSE:TT) Shares Purchased by Sandy Spring Bank

Sandy Spring Bank boosted its holdings in Trane Technologies plc (NYSE:TT) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,929 shares of the company’s stock after purchasing an additional 606 shares during the quarter. Sandy Spring Bank’s holdings in Trane Technologies were worth $5,883,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Trane Technologies in the fourth quarter valued at $611,322,000. Massachusetts Financial Services Co. MA lifted its stake in Trane Technologies by 35.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after buying an additional 671,691 shares during the last quarter. FMR LLC lifted its stake in Trane Technologies by 4.0% in the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after buying an additional 397,537 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Trane Technologies by 455.2% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock valued at $167,977,000 after buying an additional 350,277 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in Trane Technologies by 42.9% in the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after buying an additional 293,916 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TT. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a research note on Tuesday, January 28th. Wells Fargo & Company cut 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 note on Friday, January 31st. UBS Group cut their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Barclays cut their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average target price of $413.69.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the completion of the sale, the chief financial officer now owns 62,221 shares of the company’s stock, valued at $22,299,384.19. This trade represents a 1.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction 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 sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,234 shares of company stock valued at $2,588,102. Company insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

NYSE TT opened at $350.28 on Thursday. The stock’s 50-day moving average price is $362.58 and its two-hundred day moving average price is $379.83. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The company has a market cap of $78.56 billion, a PE ratio of 31.14, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 1 year low of $286.32 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping 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%. On average, analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $0.94 dividend. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.07%. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

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.