Texas Capital Bank Wealth Management Services Inc Invests $7.06 Million in Trane Technologies plc (NYSE:TT)

Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Trane Technologies plc (NYSE:TT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,113 shares of the company’s stock, valued at approximately $7,059,000.

Other institutional investors also recently made changes to their positions in the company. Kovitz Investment Group Partners LLC acquired a new position in shares of Trane Technologies in the third quarter worth about $1,438,000. EP Wealth Advisors LLC boosted its stake in Trane Technologies by 37.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 2,054 shares of the company’s stock valued at $799,000 after acquiring an additional 561 shares during the last quarter. MML Investors Services LLC increased its holdings in Trane Technologies by 12.2% in the third quarter. MML Investors Services LLC now owns 20,767 shares of the company’s stock valued at $8,073,000 after buying an additional 2,257 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Trane Technologies by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock valued at $1,797,700,000 after acquiring an additional 65,991 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in Trane Technologies by 10.0% during the third quarter. Coldstream Capital Management Inc. now owns 5,146 shares of the company’s stock valued at $2,012,000 after purchasing an additional 466 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Down 0.7 %

Shares of Trane Technologies stock traded down $2.35 during trading on Thursday, hitting $340.45. 234,720 shares of the company were exchanged, compared to its average volume of 1,276,192. The firm’s fifty day moving average price is $347.74 and its 200 day moving average price is $377.06. The firm has a market capitalization of $76.36 billion, a P/E ratio of 30.26, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a 1-year low of $286.32 and a 1-year high of $422.00.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. As a group, sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.10%. Trane Technologies’s dividend payout ratio is 33.42%.

Analysts Set New Price Targets

A number of research firms recently weighed in on TT. UBS Group dropped their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Royal Bank of Canada raised their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. cut their target price on Trane Technologies from $396.00 to $323.00 and set a “neutral” rating on the stock in a research report on Tuesday. Barclays lowered their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Finally, Melius Research reissued a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average target price of $409.13.

Insider Activity

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the stock in a transaction 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 sale, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares of the company’s stock, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock worth $2,588,102 in the last quarter. Corporate insiders own 0.38% of the company’s stock.

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.