Eastern Bank Takes Position in Trane Technologies plc (NYSE:TT)

Eastern Bank acquired a new stake in Trane Technologies plc (NYSE:TT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 644 shares of the company’s stock, valued at approximately $250,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TT. GoalVest Advisory LLC raised its stake in Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Trane Technologies during the 1st quarter worth $27,000. BOK Financial Private Wealth Inc. acquired a new stake in Trane Technologies during the 1st quarter worth $30,000. Fortitude Family Office LLC raised its stake in Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after acquiring an additional 43 shares in the last quarter. Finally, Triad Wealth Partners LLC acquired a new stake in Trane Technologies during the 2nd quarter worth $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Barclays lifted their price target on shares of Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada raised their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Morgan Stanley began coverage on shares of Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective on the stock. Mizuho raised their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird raised their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $373.58.

Insider Activity

In other news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Trane Technologies Trading Down 0.8 %

NYSE:TT opened at $392.57 on Friday. Trane Technologies plc has a 1 year low of $184.02 and a 1 year high of $406.96. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. The stock has a fifty day moving average price of $372.79 and a two-hundred day moving average price of $341.49. The stock has a market capitalization of $88.86 billion, a price-to-earnings ratio of 41.94, a PEG ratio of 2.75 and a beta of 1.01.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.68 EPS. As a group, sell-side analysts anticipate that Trane Technologies plc will post 10.88 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. Trane Technologies’s dividend payout ratio is presently 35.90%.

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.