Ledyard National Bank Sells 45 Shares of Trane Technologies plc (NYSE:TT)

Ledyard National Bank reduced its holdings in shares of Trane Technologies plc (NYSE:TT) by 0.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,976 shares of the company’s stock after selling 45 shares during the quarter. Ledyard National Bank’s holdings in Trane Technologies were worth $1,458,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. BKM Wealth Management LLC acquired a new stake in Trane Technologies during the 4th quarter worth approximately $25,000. Venturi Wealth Management LLC lifted its holdings in Trane Technologies by 139.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock worth $31,000 after purchasing an additional 88 shares during the last quarter. Ancora Advisors LLC acquired a new stake in Trane Technologies during the 3rd quarter worth approximately $40,000. Rosenberg Matthew Hamilton lifted its holdings in Trane Technologies by 27.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock worth $47,000 after purchasing an additional 41 shares during the last quarter. Finally, Operose Advisors LLC acquired a new stake in Trane Technologies during the 3rd quarter worth approximately $53,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TT has been the subject of several analyst reports. Royal Bank of Canada lifted their price objective on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Barclays lifted their price objective on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Citigroup boosted their price target on Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Stephens boosted their price target on Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Finally, The Goldman Sachs Group boosted their price target on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $251.83.

Insider Activity

In related news, CEO David S. Regnery sold 6,990 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the transaction, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Paul A. Camuti sold 508 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the transaction, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at approximately $24,449,442.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David S. Regnery sold 6,990 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the completion of the sale, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The disclosure for this sale can be found here. Insiders have sold 29,874 shares of company stock valued at $8,462,825 in the last ninety days. 0.39% of the stock is owned by company insiders.

Trane Technologies Trading Up 6.6 %

Shares of NYSE:TT traded up $19.89 during midday trading on Tuesday, reaching $320.75. The company’s stock had a trading volume of 1,115,603 shares, compared to its average volume of 1,009,837. The firm has a market capitalization of $72.83 billion, a price-to-earnings ratio of 36.97, a PEG ratio of 2.57 and a beta of 1.05. 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 firm has a 50 day moving average price of $292.79 and a two-hundred day moving average price of $255.54. Trane Technologies plc has a fifty-two week low of $162.04 and a fifty-two week high of $327.09.

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

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s dividend payout ratio is 38.23%.

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.