Atlantic Union Bankshares Corp Acquires New Position in Trane Technologies plc (NYSE:TT)

Atlantic Union Bankshares Corp bought a new position in shares of Trane Technologies plc (NYSE:TT) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 745 shares of the company’s stock, valued at approximately $224,000.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Trane Technologies during the 4th quarter worth approximately $655,804,000. International Assets Investment Management LLC grew its holdings in Trane Technologies by 24,670.7% in the fourth quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after purchasing an additional 1,030,247 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Trane Technologies by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after purchasing an additional 880,583 shares during the last quarter. TD Asset Management Inc raised its stake in shares of Trane Technologies by 719.8% during the 4th quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock worth $183,143,000 after buying an additional 659,299 shares during the last quarter. Finally, Putnam Investments LLC boosted its position in shares of Trane Technologies by 27,824.4% in the 4th quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock worth $139,689,000 after buying an additional 570,679 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the sale, the chief financial officer now directly owns 61,293 shares in the company, valued at approximately $19,532,240.31. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Evan M. Turtz sold 8,988 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the sale, the senior vice president now directly owns 20,758 shares in the company, valued at $6,669,545.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the transaction, the chief financial officer now owns 61,293 shares in the company, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Trane Technologies Trading Down 1.4 %

Shares of TT traded down $4.72 during mid-day trading on Friday, hitting $328.93. The company had a trading volume of 5,452,869 shares, compared to its average volume of 1,087,107. Trane Technologies plc has a 1-year low of $184.02 and a 1-year high of $345.46. The business’s 50-day simple moving average is $324.44 and its 200-day simple moving average is $289.08. The stock has a market cap of $74.45 billion, a PE ratio of 35.09, a P/E/G ratio of 2.62 and a beta of 1.01. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. The company had revenue of $4.22 billion for the quarter, compared to analyst estimates of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. Trane Technologies’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the business earned $1.41 EPS. Sell-side analysts forecast that Trane Technologies plc will post 10.46 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.02%. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TT. Mizuho raised their target price on shares of Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Citigroup lifted their price objective on Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Barclays increased their target price on Trane Technologies from $354.00 to $380.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. UBS Group boosted their price target on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Finally, Stephens increased their price objective on Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $309.79.

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.