Fulton Bank N.A. Sells 333 Shares of Trane Technologies plc (NYSE:TT)

Fulton Bank N.A. decreased its position in shares of Trane Technologies plc (NYSE:TT) by 11.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,541 shares of the company’s stock after selling 333 shares during the period. Fulton Bank N.A.’s holdings in Trane Technologies were worth $939,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Global Wealth Strategies & Associates purchased a new stake in Trane Technologies in the 4th quarter worth about $26,000. MidAtlantic Capital Management Inc. bought a new position in shares of Trane Technologies during the third quarter valued at approximately $27,000. DT Investment Partners LLC purchased a new stake in shares of Trane Technologies in the third quarter worth approximately $36,000. Quarry LP bought a new stake in shares of Trane Technologies during the 2nd quarter worth approximately $39,000. Finally, Pittenger & Anderson Inc. purchased a new position in Trane Technologies during the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of TT stock opened at $386.19 on Thursday. Trane Technologies plc has a 1-year low of $240.51 and a 1-year high of $422.00. The company has a market cap of $86.90 billion, a P/E ratio of 35.82, a PEG ratio of 2.38 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The stock’s 50-day moving average is $396.29 and its 200 day moving average is $370.89.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.79 earnings per share. Research analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This represents a 25.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.38% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TT shares. UBS Group began coverage on Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price for the company. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research report on Thursday, October 31st. Wells Fargo & Company decreased their price target on shares of Trane Technologies from $390.00 to $380.00 and set an “underweight” rating for the company in a research note on Tuesday. The Goldman Sachs Group increased their price objective on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Mizuho lifted their target price on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $414.57.

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.