BankPlus Trust Department Acquires Shares of 123 Trane Technologies plc (NYSE:TT)

BankPlus Trust Department acquired a new stake in Trane Technologies plc (NYSE:TT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 123 shares of the company’s stock, valued at approximately $45,000.

Other large investors have also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new position in shares of Trane Technologies in the third quarter valued at $27,000. Global Wealth Strategies & Associates bought a new position in shares of Trane Technologies in the fourth quarter valued at $26,000. Sound Income Strategies LLC lifted its stake in shares of Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares in the last quarter. Pittenger & Anderson Inc. bought a new position in shares of Trane Technologies in the third quarter valued at $39,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Trane Technologies in the fourth quarter valued at $39,000. 82.97% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Mairead Magner sold 198 shares of the firm’s 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 transaction, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Evan M. Turtz sold 318 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the transaction, the senior vice president now owns 20,513 shares of the company’s stock, valued at $7,346,115.56. This trade represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,563 shares of company stock worth $4,388,966. 0.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on TT shares. JPMorgan Chase & Co. increased 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. Royal Bank of Canada increased their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a report on Thursday, October 31st. UBS Group lowered their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus target price of $415.25.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $349.10 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $78.30 billion, a PE ratio of 31.03, a P/E/G ratio of 2.50 and a beta of 1.05. Trane Technologies plc has a twelve month low of $279.00 and a twelve month high of $422.00. The company has a 50-day moving average price of $372.93 and a two-hundred day moving average price of $380.47.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Equities analysts forecast 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. Stockholders of record on Friday, March 7th will be given a $0.94 dividend. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is 29.87%.

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.