Trane Technologies plc $TT Shares Bought by ABN AMRO Bank N.V.

ABN AMRO Bank N.V. raised its stake in Trane Technologies plc (NYSE:TT) by 3.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 685,288 shares of the company’s stock after buying an additional 23,444 shares during the quarter. Trane Technologies comprises approximately 2.8% of ABN AMRO Bank N.V.’s investment portfolio, making the stock its 8th biggest position. ABN AMRO Bank N.V.’s holdings in Trane Technologies were worth $288,306,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Icon Advisers Inc. Co. acquired a new stake in Trane Technologies during the 2nd quarter worth approximately $26,000. Financial Consulate Inc. bought a new position in shares of Trane Technologies in the 3rd quarter worth about $25,000. Hantz Financial Services Inc. grew its position in shares of Trane Technologies by 1,016.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after buying an additional 61 shares during the period. United Community Bank boosted its position in shares of Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 43 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC raised its holdings in Trane Technologies by 34.2% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock worth $43,000 after buying an additional 26 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 1.2%

NYSE:TT opened at $440.62 on Thursday. The firm has a 50-day simple moving average of $397.26 and a 200-day simple moving average of $414.56. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18. The firm has a market cap of $97.70 billion, a P/E ratio of 33.95, a P/E/G ratio of 2.29 and a beta of 1.21.

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

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 1.0%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date is Friday, March 6th. Trane Technologies’s dividend payout ratio (DPR) is 28.97%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TT. Wells Fargo & Company increased their target price on shares of Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a report on Friday, January 30th. UBS Group decreased their price target on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Royal Bank Of Canada boosted their price objective on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Finally, Barclays upped their target price on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

About Trane Technologies

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.