Stock Yards Bank & Trust Co. Has $286,000 Stake in Trane Technologies plc (NYSE:TT)

Stock Yards Bank & Trust Co. decreased its position in Trane Technologies plc (NYSE:TT) by 29.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,172 shares of the company’s stock after selling 497 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Trane Technologies were worth $286,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in Trane Technologies by 36.4% in the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock valued at $332,581,000 after buying an additional 436,997 shares during the period. Xponance Inc. raised its holdings in shares of Trane Technologies by 18.6% during the fourth quarter. Xponance Inc. now owns 43,825 shares of the company’s stock valued at $10,689,000 after purchasing an additional 6,869 shares during the period. CHICAGO TRUST Co NA raised its holdings in shares of Trane Technologies by 2.1% during the fourth quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock valued at $765,000 after purchasing an additional 64 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Trane Technologies by 60.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock valued at $27,375,000 after purchasing an additional 42,409 shares during the period. Finally, Wealth Effects LLC acquired a new position in shares of Trane Technologies during the fourth quarter valued at about $239,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TT shares. Royal Bank of Canada upped their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Stephens upped their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Citigroup boosted their target price on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Barclays boosted their target price on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $251.83.

Trane Technologies Trading Up 0.5 %

Shares of TT stock opened at $296.49 on Thursday. Trane Technologies plc has a 52-week low of $162.04 and a 52-week high of $306.98. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13. The company has a 50-day simple moving average of $291.04 and a two-hundred day simple moving average of $253.23. The company has a market capitalization of $67.32 billion, a price-to-earnings ratio of 33.73, a PEG ratio of 2.49 and a beta of 1.05.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the prior year, the firm posted $1.82 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Research analysts anticipate that Trane Technologies plc will post 10.2 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s payout ratio is 38.23%.

Insiders Place Their Bets

In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the transaction, the executive vice president now directly owns 89,447 shares in the company, valued at $24,449,442.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total value of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares in the company, valued at $17,673,237.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the transaction, the executive vice president now owns 89,447 shares in the company, valued at $24,449,442.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,874 shares of company stock valued at $8,462,825. Corporate insiders own 0.39% of the company’s stock.

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.