PNC Financial Services Group Inc. increased its position in Trane Technologies plc (NYSE:TT – Free Report) by 41.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 338,528 shares of the company’s stock after purchasing an additional 98,804 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.15% of Trane Technologies worth $64,747,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its position in shares of Trane Technologies by 17.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 349 shares of the company’s stock worth $67,000 after purchasing an additional 52 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Trane Technologies by 2.8% during the 2nd quarter. Parallel Advisors LLC now owns 1,967 shares of the company’s stock worth $376,000 after buying an additional 53 shares during the period. Horan Securities Inc. increased its stake in shares of Trane Technologies by 2.7% in the 2nd quarter. Horan Securities Inc. now owns 2,134 shares of the company’s stock valued at $408,000 after acquiring an additional 56 shares during the last quarter. Checchi Capital Advisers LLC raised its position in shares of Trane Technologies by 3.0% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,982 shares of the company’s stock valued at $379,000 after acquiring an additional 57 shares during the period. Finally, FRG Family Wealth Advisors LLC raised its position in shares of Trane Technologies by 0.5% in the 2nd quarter. FRG Family Wealth Advisors LLC now owns 11,094 shares of the company’s stock valued at $2,122,000 after acquiring an additional 60 shares during the period. 80.66% of the stock is owned by institutional investors.
Insider Buying and Selling at Trane Technologies
In related news, SVP Keith A. Sultana sold 1,637 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $217.36, for a total transaction of $355,818.32. Following the completion of the sale, the senior vice president now directly owns 42,257 shares in the company, valued at approximately $9,184,981.52. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO David S. Regnery sold 17,585 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $220.00, for a total value of $3,868,700.00. Following the sale, the chief executive officer now directly owns 93,081 shares in the company, valued at $20,477,820. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Keith A. Sultana sold 1,637 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $217.36, for a total transaction of $355,818.32. Following the transaction, the senior vice president now owns 42,257 shares of the company’s stock, valued at approximately $9,184,981.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,366 shares of company stock valued at $7,093,065. 0.39% of the stock is currently owned by corporate insiders.
Trane Technologies Stock Performance
NYSE TT opened at $227.46 on Thursday. Trane Technologies plc has a 12-month low of $162.04 and a 12-month high of $229.94. The firm has a 50-day moving average price of $206.37 and a two-hundred day moving average price of $195.92. The company has a market capitalization of $51.76 billion, a P/E ratio of 26.79, a P/E/G ratio of 1.86 and a beta of 1.01. The company has a quick ratio of 0.87, a current ratio of 1.29 and a debt-to-equity ratio of 0.67.
Trane Technologies (NYSE:TT – Get Free Report) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.13. The company had revenue of $4.95 billion for the quarter, compared to analysts’ expectations of $4.80 billion. Trane Technologies had a return on equity of 31.97% and a net margin of 11.30%. Trane Technologies’s revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the business earned $2.27 earnings per share. Analysts anticipate that Trane Technologies plc will post 9.01 earnings per share for the current year.
Trane Technologies Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.32%. The ex-dividend date is Thursday, November 30th. Trane Technologies’s payout ratio is presently 35.34%.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Barclays upped their target price on shares of Trane Technologies from $222.00 to $226.00 and gave the company an “overweight” rating in a research note on Thursday, November 2nd. HSBC started coverage on Trane Technologies in a research note on Friday, September 15th. They set a “buy” rating and a $256.00 price objective on the stock. Mizuho boosted their target price on Trane Technologies from $185.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, August 3rd. Wells Fargo & Company dropped their price target on Trane Technologies from $195.00 to $190.00 in a research report on Monday, October 9th. Finally, JPMorgan Chase & Co. upgraded Trane Technologies from an “underweight” rating to a “neutral” rating and set a $191.00 price objective on the stock in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $207.31.
Read Our Latest Stock Report on Trane Technologies
Trane Technologies Company 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.
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