Trane Technologies plc $TT Shares Acquired by Raiffeisen Bank International AG

Raiffeisen Bank International AG raised its position in shares of Trane Technologies plc (NYSE:TT) by 308.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,074 shares of the company’s stock after buying an additional 21,194 shares during the quarter. Raiffeisen Bank International AG’s holdings in Trane Technologies were worth $11,633,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. King Luther Capital Management Corp raised its holdings in shares of Trane Technologies by 1.3% during the second quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock worth $849,000 after purchasing an additional 24 shares during the period. Old Port Advisors raised its stake in Trane Technologies by 3.2% during the third quarter. Old Port Advisors now owns 778 shares of the company’s stock worth $328,000 after acquiring an additional 24 shares during the period. OneAscent Wealth Management LLC lifted its holdings in Trane Technologies by 1.5% in the third quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock worth $686,000 after acquiring an additional 24 shares during the last quarter. Bridgewater Advisors Inc. boosted its stake in Trane Technologies by 3.7% in the third quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock valued at $285,000 after acquiring an additional 24 shares during the period. Finally, Busey Bank grew its holdings in shares of Trane Technologies by 3.0% during the third quarter. Busey Bank now owns 871 shares of the company’s stock valued at $368,000 after purchasing an additional 25 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TT. Royal Bank Of Canada raised their price target on Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. KeyCorp raised shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a report on Monday, December 15th. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. Finally, Barclays upped their target price on shares of Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

Trane Technologies Trading Up 0.7%

Trane Technologies stock opened at $466.84 on Friday. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $479.37. The stock has a market capitalization of $103.32 billion, a PE ratio of 35.97, a price-to-earnings-growth ratio of 2.44 and a beta of 1.21. The firm has a 50 day simple moving average of $410.60 and a 200-day simple moving average of $415.60. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. The firm had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the company posted $2.61 EPS. As a group, equities research analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a dividend of $1.05 per share. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is 28.97%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 137 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.48, for a total value of $63,359.76. Following the transaction, the chief accounting officer directly owned 7,100 shares of the company’s stock, valued at $3,283,608. This represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald E. Simmons sold 822 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.57, for a total value of $380,232.54. Following the completion of the sale, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,766,554.83. The trade was a 17.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 8,936 shares of company stock worth $4,133,991 in the last ninety days. Company insiders own 0.14% of the company’s stock.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.