Community Bank N.A. Reduces Stock Position in Trane Technologies plc (NYSE:TT)

Community Bank N.A. cut its stake in Trane Technologies plc (NYSE:TT) by 18.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 900 shares of the company’s stock after selling 200 shares during the period. Community Bank N.A.’s holdings in Trane Technologies were worth $220,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new position in shares of Trane Technologies during the 4th quarter worth approximately $25,000. Venturi Wealth Management LLC increased its stake in shares of 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 in the last quarter. Avior Wealth Management LLC increased its stake in shares of Trane Technologies by 58.0% during the 3rd quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock worth $36,000 after purchasing an additional 65 shares in the last quarter. Rosenberg Matthew Hamilton boosted its position in Trane Technologies by 27.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock worth $47,000 after acquiring an additional 41 shares during the last quarter. Finally, Ancora Advisors LLC acquired a new stake in Trane Technologies during the third quarter worth approximately $40,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Evan M. Turtz sold 2,821 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $288.33, for a total transaction of $813,378.93. Following the completion of the transaction, the senior vice president now directly owns 20,729 shares of the company’s stock, valued at approximately $5,976,792.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 61,691 shares in the company, valued at $17,673,237.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Evan M. Turtz sold 2,821 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $288.33, for a total transaction of $813,378.93. Following the transaction, the senior vice president now owns 20,729 shares in the company, valued at approximately $5,976,792.57. The disclosure for this sale can be found here. Insiders sold 29,874 shares of company stock valued at $8,462,825 in the last ninety days. Company insiders own 0.39% of the company’s stock.

Trane Technologies Stock Up 1.3 %

Trane Technologies stock traded up $3.73 during midday trading on Thursday, hitting $300.22. 663,975 shares of the stock were exchanged, compared to its average volume of 989,701. The company has a 50 day moving average price of $291.04 and a two-hundred day moving average price of $253.23. The firm has a market cap of $68.17 billion, a P/E ratio of 33.26, a P/E/G ratio of 2.49 and a beta of 1.05. Trane Technologies plc has a 1 year low of $162.04 and a 1 year high of $306.98. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the previous year, the firm earned $1.82 EPS. The company’s revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts predict that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 38.23%.

Analyst Ratings Changes

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

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.