Amalgamated Bank Has $22.52 Million Stake in Trane Technologies plc $TT

Amalgamated Bank raised its stake in Trane Technologies plc (NYSE:TT) by 4.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,494 shares of the company’s stock after buying an additional 2,141 shares during the quarter. Amalgamated Bank’s holdings in Trane Technologies were worth $22,524,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in TT. Ethic Inc. grew its holdings in shares of Trane Technologies by 6.6% during the second quarter. Ethic Inc. now owns 26,836 shares of the company’s stock worth $11,601,000 after buying an additional 1,672 shares in the last quarter. OMNI 360 Wealth Inc. bought a new position in shares of Trane Technologies during the second quarter worth about $345,000. Triton Financial Group Inc bought a new position in shares of Trane Technologies during the second quarter worth about $1,273,000. Jones Financial Companies Lllp grew its holdings in shares of Trane Technologies by 350.3% during the first quarter. Jones Financial Companies Lllp now owns 21,191 shares of the company’s stock worth $7,140,000 after buying an additional 16,485 shares in the last quarter. Finally, BROOKFIELD Corp ON grew its holdings in shares of Trane Technologies by 11.0% during the first quarter. BROOKFIELD Corp ON now owns 8,227 shares of the company’s stock worth $2,772,000 after buying an additional 812 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the subject of a number of analyst reports. UBS Group raised their price target on Trane Technologies from $500.00 to $544.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Morgan Stanley raised their price target on Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and raised their price target for the company from $415.00 to $460.00 in a research note on Thursday, July 31st. Northcoast Research downgraded Trane Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada raised their price target on Trane Technologies from $463.00 to $467.00 and gave the company a “sector perform” rating in a research note on Thursday, July 31st. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and an average price target of $464.29.

Trane Technologies Stock Performance

NYSE:TT opened at $426.66 on Thursday. The stock has a market cap of $94.94 billion, a P/E ratio of 33.84, a PEG ratio of 2.65 and a beta of 1.12. The stock has a 50 day simple moving average of $416.34 and a 200 day simple moving average of $417.50. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.09. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $3.30 EPS. Research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.76 annualized dividend and a yield of 0.9%. Trane Technologies’s payout ratio is currently 29.82%.

Insiders Place Their Bets

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total value of $9,223,770.00. Following the completion of the transaction, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at $50,722,330. The trade was a 15.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by corporate insiders.

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.