Trane Technologies plc $TT is ABN AMRO Bank N.V.’s 8th Largest Position

ABN AMRO Bank N.V. boosted its stake in Trane Technologies plc (NYSE:TT) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 685,288 shares of the company’s stock after purchasing an additional 23,444 shares during the quarter. Trane Technologies comprises approximately 2.8% of ABN AMRO Bank N.V.’s holdings, making the stock its 8th largest holding. ABN AMRO Bank N.V. owned 0.31% of Trane Technologies worth $288,306,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Financial Consulate Inc. bought a new stake in Trane Technologies in the 3rd quarter worth approximately $25,000. Icon Advisers Inc. Co. purchased a new position in shares of Trane Technologies in the second quarter valued at $26,000. Hantz Financial Services Inc. increased its position in Trane Technologies by 1,016.7% in the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after purchasing an additional 61 shares during the last quarter. United Community Bank raised its stake in Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after purchasing an additional 43 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC lifted its position in Trane Technologies by 34.2% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after purchasing an additional 26 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Trane Technologies Trading Up 1.2%

Shares of Trane Technologies stock opened at $440.62 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. The firm has a fifty day moving average price of $397.26 and a 200 day moving average price of $414.56. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. The stock has a market cap of $97.70 billion, a PE ratio of 33.95, a price-to-earnings-growth ratio of 2.29 and a beta of 1.21.

Trane Technologies (NYSE:TT) last released 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 business had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The business’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.61 EPS. Equities research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, March 6th. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio is presently 28.97%.

Wall Street Analysts Forecast Growth

TT has been the topic of several recent research reports. UBS Group decreased their target price on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Wells Fargo & Company upped their price objective on Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 30th. Citigroup lifted their target price on Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Barclays increased their price target on Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a report on Friday, January 30th. One 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $484.67.

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.