First Nebraska Trust Co Acquires 52,673 Shares of Trane Technologies plc $TT

First Nebraska Trust Co bought a new stake in Trane Technologies plc (NYSE:TT) during the third quarter, according to its most recent filing with the SEC. The firm bought 52,673 shares of the company’s stock, valued at approximately $23,806,000. Trane Technologies comprises 2.0% of First Nebraska Trust Co’s holdings, making the stock its 10th biggest holding.

Several other institutional investors have also recently bought and sold shares of the company. Amundi increased its position in Trane Technologies by 47.8% in the 1st quarter. Amundi now owns 2,174,396 shares of the company’s stock worth $906,158,000 after buying an additional 703,018 shares during the period. Janus Henderson Group PLC boosted its position in shares of Trane Technologies by 10.6% in the first quarter. Janus Henderson Group PLC now owns 1,878,018 shares of the company’s stock valued at $782,707,000 after acquiring an additional 180,537 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Trane Technologies by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,035,241 shares of the company’s stock worth $431,347,000 after acquiring an additional 32,286 shares during the last quarter. Ninety One UK Ltd grew its stake in shares of Trane Technologies by 0.4% in the third quarter. Ninety One UK Ltd now owns 926,668 shares of the company’s stock worth $418,835,000 after acquiring an additional 3,624 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in Trane Technologies by 51.9% during the first quarter. California Public Employees Retirement System now owns 686,691 shares of the company’s stock worth $286,172,000 after acquiring an additional 234,666 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In other news, CEO David Regnery sold 48,091 shares of the stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $480.00, for a total value of $23,083,680.00. Following the completion of the transaction, the chief executive officer directly owned 96,951 shares of the company’s stock, valued at approximately $46,536,480. This represents a 33.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Mizuho upped their price objective on shares of Trane Technologies from $475.00 to $485.00 and gave the company a “neutral” rating in a research report on Thursday, October 15th. Citigroup lowered their price target on Trane Technologies from $566.00 to $549.00 and set a “buy” rating on the stock in a research note on Monday. BNP Paribas Exane upped their price target on Trane Technologies from $560.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Royal Bank Of Canada lowered their price objective on Trane Technologies from $502.00 to $486.00 and set a “sector perform” rating on the stock in a research report on Friday, October 30th. Finally, Argus set a $500.00 target price on Trane Technologies in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $535.89.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $417.41 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.12. The firm’s 50-day simple moving average is $449.06 and its 200-day simple moving average is $454.26. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $505.87. The firm has a market cap of $91.37 billion, a P/E ratio of 28.19, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, October 29th. The company reported $4.86 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.12. Trane Technologies had a net margin of 13.56% and a return on equity of 37.26%. The business had revenue of $6.76 billion for the quarter, compared to analysts’ expectations of $6.50 billion. During the same quarter in the previous year, the firm posted $3.88 earnings per share. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. As a group, research analysts expect that Trane Technologies plc will post 15.29 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 4th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, December 4th. Trane Technologies’s dividend payout ratio is currently 29.66%.

Trane Technologies Company Profile

Trane Technologies plc is a global climate technology company that develops solutions for heating, ventilation, air conditioning, refrigeration and building management. Its products and services are designed to improve indoor comfort, energy efficiency and the sustainability of commercial, industrial, residential and institutional buildings.

The company operates through well-known brands including Trane, Thermo King and Frigoblock. Trane provides HVAC equipment, building controls, digital solutions, maintenance and energy services, while Thermo King and Frigoblock offer temperature-control systems for refrigerated transportation.