Trane Technologies plc (NYSE:TT) Shares Purchased by Sandy Spring Bank

Sandy Spring Bank boosted its holdings in Trane Technologies plc (NYSE:TT) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,929 shares of the company’s stock after acquiring an additional 606 shares during the period. Sandy Spring Bank’s holdings in Trane Technologies were worth $5,883,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC grew its stake in Trane Technologies by 22.2% in the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after acquiring an additional 2,874 shares during the last quarter. Synovus Financial Corp grew its stake in Trane Technologies by 16.8% in the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after acquiring an additional 1,271 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in Trane Technologies in the 4th quarter valued at about $468,000. HB Wealth Management LLC grew its stake in Trane Technologies by 14.3% in the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after acquiring an additional 711 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in Trane Technologies by 31.2% in the 4th quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company’s stock valued at $10,733,000 after acquiring an additional 6,910 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the sale, the senior vice president now owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the sale, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at $22,818,050.22. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock valued at $2,588,102 over the last 90 days. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Trading Up 1.8 %

NYSE TT opened at $350.28 on Thursday. Trane Technologies plc has a one year low of $286.32 and a one year high of $422.00. The company’s 50 day moving average price is $362.58 and its 200 day moving average price is $379.83. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The firm has a market capitalization of $78.56 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. On average, sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $0.94 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 annualized dividend and a yield of 1.07%. Trane Technologies’s dividend payout ratio (DPR) is 33.42%.

Analysts Set New Price Targets

A number of research firms have issued reports on TT. UBS Group reduced their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a report on Tuesday, January 28th. Barclays reduced their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, Melius Research restated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus price target of $413.69.

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.