Truist Financial Corp Has $136.59 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Truist Financial Corp decreased its holdings in Trane Technologies plc (NYSE:TT) by 1.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 369,823 shares of the company’s stock after selling 3,566 shares during the period. Truist Financial Corp’s holdings in Trane Technologies were worth $136,594,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of TT. Creative Planning raised its stake in Trane Technologies by 5.8% in the 3rd quarter. Creative Planning now owns 62,756 shares of the company’s stock worth $24,395,000 after purchasing an additional 3,446 shares in the last quarter. Swedbank AB raised its stake in Trane Technologies by 2.8% in the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock worth $289,135,000 after purchasing an additional 20,400 shares in the last quarter. Global Retirement Partners LLC raised its stake in Trane Technologies by 37.5% in the 3rd quarter. Global Retirement Partners LLC now owns 1,723 shares of the company’s stock worth $670,000 after purchasing an additional 470 shares in the last quarter. Trust Co. of Vermont raised its stake in Trane Technologies by 21.6% in the 3rd quarter. Trust Co. of Vermont now owns 411 shares of the company’s stock worth $160,000 after purchasing an additional 73 shares in the last quarter. Finally, Claro Advisors LLC acquired a new position in shares of Trane Technologies in the 3rd quarter valued at approximately $441,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Up 0.6 %

TT opened at $363.58 on Monday. Trane Technologies plc has a fifty-two week low of $270.50 and a fifty-two week high of $422.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The firm has a market capitalization of $81.81 billion, a price-to-earnings ratio of 32.32, a PEG ratio of 2.44 and a beta of 1.05. The company’s 50 day moving average price is $378.44 and its two-hundred day moving average price is $378.78.

Trane Technologies (NYSE:TT) last posted 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%. As a group, research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.03%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s payout ratio is presently 29.87%.

Insiders Place Their Bets

In other news, SVP Evan M. Turtz sold 318 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the sale, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at approximately $7,346,115.56. This represents a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock valued at $4,388,966 in the last ninety days. 0.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TT has been the subject of several analyst reports. Melius Research restated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research report on Thursday, October 31st. Wells Fargo & Company dropped their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. UBS Group dropped their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Barclays boosted their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $415.25.

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.