Huntington National Bank Sells 1,385 Shares of Trane Technologies plc $TT

Huntington National Bank reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 22.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,697 shares of the company’s stock after selling 1,385 shares during the period. Huntington National Bank’s holdings in Trane Technologies were worth $1,982,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TT. Icon Advisers Inc. Co. acquired a new stake in shares of Trane Technologies in the second quarter valued at about $26,000. Financial Consulate Inc. bought a new stake in Trane Technologies in the third quarter valued at approximately $25,000. Hantz Financial Services Inc. increased its position in Trane Technologies by 1,016.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after purchasing an additional 61 shares during the period. United Community Bank raised its holdings in Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 43 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC lifted its position in shares of Trane Technologies by 34.2% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock worth $43,000 after purchasing an additional 26 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Donald E. Simmons sold 822 shares of Trane Technologies stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $462.57, for a total transaction of $380,232.54. Following the sale, the insider directly owned 3,819 shares in the company, valued at approximately $1,766,554.83. This trade represents a 17.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 2,389 shares of Trane Technologies stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total value of $1,105,390.30. Following the sale, the chief financial officer owned 60,486 shares in the company, valued at $27,986,872.20. The trade was a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 8,936 shares of company stock valued at $4,133,991. Insiders own 0.14% of the company’s stock.

Trane Technologies Stock Up 1.0%

Shares of NYSE TT opened at $461.71 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. The company has a 50-day moving average price of $417.67 and a 200-day moving average price of $416.42. The stock has a market capitalization of $102.19 billion, a P/E ratio of 35.57, a P/E/G ratio of 2.43 and a beta of 1.19. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $479.37.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. The company had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $2.61 earnings per share. On average, equities research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a $1.05 dividend. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date is Friday, March 6th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is 28.97%.

Analyst Ratings Changes

TT has been the subject of several recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. Bank of America raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $490.00 to $550.00 in a research report on Thursday, November 13th. Barclays increased their price target on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Wells Fargo & Company boosted their price objective on Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research note on Friday, January 30th. Finally, Morgan Stanley cut their target price on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $484.67.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.