Trane Technologies plc (NYSE:TT) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its holdings in Trane Technologies plc (NYSE:TT) by 7.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,636 shares of the company’s stock after selling 4,468 shares during the period. Amalgamated Bank’s holdings in Trane Technologies were worth $14,057,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of TT. Commonwealth Equity Services LLC lifted its position in Trane Technologies by 1.9% during the third quarter. Commonwealth Equity Services LLC now owns 41,603 shares of the company’s stock worth $8,442,000 after buying an additional 793 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in shares of Trane Technologies by 17.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 10,397 shares of the company’s stock valued at $2,110,000 after acquiring an additional 1,518 shares during the last quarter. Dakota Wealth Management purchased a new stake in shares of Trane Technologies in the third quarter valued at about $215,000. Stratos Wealth Partners LTD. increased its position in Trane Technologies by 2.6% during the third quarter. Stratos Wealth Partners LTD. now owns 4,586 shares of the company’s stock worth $931,000 after purchasing an additional 117 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its stake in Trane Technologies by 5.2% during the third quarter. J.W. Cole Advisors Inc. now owns 1,328 shares of the company’s stock worth $270,000 after purchasing an additional 66 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Up 0.8 %

Shares of NYSE:TT traded up $2.55 during trading on Friday, hitting $319.34. The company’s stock had a trading volume of 1,074,503 shares, compared to its average volume of 1,033,256. The company has a market capitalization of $72.28 billion, a PE ratio of 34.12, a P/E/G ratio of 2.50 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.78 and a current ratio of 1.13. Trane Technologies plc has a fifty-two week low of $162.04 and a fifty-two week high of $327.09. The business has a 50 day moving average price of $295.08 and a two-hundred day moving average price of $257.16.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.30. The company had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. Trane Technologies’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.41 EPS. As a group, research analysts expect that Trane Technologies plc will post 10.47 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.84 dividend. The ex-dividend date is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.05%. Trane Technologies’s dividend payout ratio is currently 35.90%.

Analyst Ratings Changes

Several research firms have recently weighed in on TT. Mizuho increased their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday. The Goldman Sachs Group raised their target price on Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wells Fargo & Company upped 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. TD Cowen raised their price objective on Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada upped their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $300.54.

Insiders Place Their Bets

In other news, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the completion of the sale, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Christopher J. Kuehn sold 3,762 shares of the stock in a transaction dated Wednesday, March 6th. The stock was 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 owns 61,691 shares in the company, valued at approximately $17,673,237.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 2,767 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total value of $742,413.77. Following the sale, the chief financial officer now directly owns 54,788 shares in the company, valued at approximately $14,700,168.28. The disclosure for this sale can be found here. Insiders sold 28,237 shares of company stock worth $8,024,534 in the last 90 days. Corporate insiders own 0.39% of the company’s stock.

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.