Trane Technologies plc (NYSE:TT) Shares Sold by Park National Corp OH

Park National Corp OH reduced its position in shares of Trane Technologies plc (NYSE:TT) by 9.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,610 shares of the company’s stock after selling 1,645 shares during the period. Park National Corp OH’s holdings in Trane Technologies were worth $4,686,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. GSA Capital Partners LLP acquired a new position in Trane Technologies in the fourth quarter worth approximately $3,086,000. Wellington Management Group LLP boosted its position in Trane Technologies by 36.4% during the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after purchasing an additional 436,997 shares during the period. Capital World Investors lifted its stake in shares of 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 buying an additional 11,930 shares during the last quarter. Stifel Financial Corp raised its position in shares of Trane Technologies by 26.8% during the fourth quarter. Stifel Financial Corp now owns 99,611 shares of the company’s stock valued at $24,295,000 after buying an additional 21,040 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Trane Technologies by 11.9% during the fourth quarter. Schroder Investment Management Group now owns 322,994 shares of the company’s stock valued at $78,778,000 after purchasing an additional 34,243 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In other news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the sale, the chief financial officer now owns 61,293 shares in the company, valued at $19,532,240.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Evan M. Turtz sold 8,988 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was 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 owns 20,758 shares in the company, valued at approximately $6,669,545.40. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 2.1 %

Shares of NYSE:TT traded up $7.02 during midday trading on Tuesday, hitting $342.33. 763,979 shares of the stock traded hands, compared to its average volume of 1,030,468. The stock has a market capitalization of $77.49 billion, a PE ratio of 35.82, a P/E/G ratio of 2.62 and a beta of 1.01. The business’s 50 day moving average is $317.81 and its two-hundred day moving average is $283.88. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a one year low of $182.96 and a one year high of $343.16.

Trane Technologies (NYSE:TT) last announced its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The business had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter last year, the firm earned $1.41 earnings per share. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, research analysts forecast that Trane Technologies plc will post 10.46 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s payout ratio is 35.90%.

Analyst Ratings Changes

A number of brokerages recently issued reports on TT. Stephens increased their target price on shares of Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Mizuho raised their price objective on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Wells Fargo & Company lifted their price target on Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, TD Cowen boosted their price target on Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $309.79.

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.