First Citizens Bank & Trust Co. Increases Position in Trane Technologies plc (NYSE:TT)

First Citizens Bank & Trust Co. increased its stake in shares of Trane Technologies plc (NYSE:TT) by 17.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,081 shares of the company’s stock after purchasing an additional 162 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Trane Technologies were worth $399,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its stake in Trane Technologies by 35,914.4% in the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after buying an additional 1,640,569 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Trane Technologies by 35.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after purchasing an additional 671,691 shares during the last quarter. FMR LLC grew its position in Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after purchasing an additional 397,537 shares during the last quarter. Nordea Investment Management AB increased its stake in Trane Technologies by 42.9% during the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after purchasing an additional 293,916 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Trane Technologies by 76.9% in the third quarter. Assenagon Asset Management S.A. now owns 417,193 shares of the company’s stock worth $162,175,000 after buying an additional 181,335 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on TT. Citigroup lowered their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Robert W. Baird dropped their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Barclays raised their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. dropped their price objective on shares of Trane Technologies from $390.00 to $387.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, Mizuho raised their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $420.64.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the sale, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.38% of the stock is owned by insiders.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $367.28 on Tuesday. The firm has a market cap of $82.65 billion, a PE ratio of 34.07, a P/E/G ratio of 2.16 and a beta of 1.06. Trane Technologies plc has a twelve month low of $250.77 and a twelve month high of $422.00. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $394.35 and a 200 day moving average price of $376.04.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the previous year, the business earned $2.79 earnings per share. The business’s revenue was up 10.0% compared to the same quarter last year. Sell-side analysts predict that Trane Technologies plc will post 11.16 earnings per share for the current fiscal year.

About Trane Technologies

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.