8,052 Shares in Trane Technologies plc (NYSE:TT) Purchased by Raiffeisen Bank International AG

Raiffeisen Bank International AG acquired a new position in shares of Trane Technologies plc (NYSE:TT) in the fourth quarter, HoldingsChannel reports. The firm acquired 8,052 shares of the company’s stock, valued at approximately $2,986,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Secured Retirement Advisors LLC grew its holdings in Trane Technologies by 0.6% in the 4th quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company’s stock valued at $1,709,000 after buying an additional 28 shares during the period. Catalina Capital Group LLC grew its holdings in Trane Technologies by 3.2% in the 4th quarter. Catalina Capital Group LLC now owns 924 shares of the company’s stock valued at $341,000 after buying an additional 29 shares during the period. Stratos Wealth Partners LTD. grew its holdings in Trane Technologies by 0.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company’s stock valued at $2,046,000 after buying an additional 29 shares during the period. Kanawha Capital Management LLC grew its holdings in Trane Technologies by 0.6% in the 4th quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company’s stock valued at $1,740,000 after buying an additional 29 shares during the period. Finally, Kestra Private Wealth Services LLC grew its holdings in Trane Technologies by 0.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 9,173 shares of the company’s stock valued at $3,388,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider now directly owns 3,593 shares of the company’s stock, valued at $1,365,340. This represents a 49.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on TT. HSBC upgraded Trane Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $405.00 to $415.00 in a report on Friday, April 25th. Melius Research reiterated a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $323.00 to $334.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company boosted their target price on Trane Technologies from $330.00 to $370.00 and gave the stock an “underweight” rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $421.07.

Trane Technologies Stock Performance

Trane Technologies stock opened at $421.88 on Friday. The stock’s 50 day moving average price is $356.17 and its 200 day moving average price is $373.18. The firm has a market capitalization of $94.09 billion, a PE ratio of 37.50, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a one year low of $298.15 and a one year high of $424.46.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Trane Technologies’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 EPS. As a group, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 31.28%.

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.