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

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

Several other hedge funds and other institutional investors also recently modified their holdings of TT. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Trane Technologies by 15.7% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,844 shares of the company’s stock valued at $778,000 after buying an additional 250 shares during the last quarter. Lion Street Advisors LLC lifted its stake in shares of Trane Technologies by 55.8% in the 3rd quarter. Lion Street Advisors LLC now owns 6,228 shares of the company’s stock worth $2,628,000 after acquiring an additional 2,230 shares during the period. Bridgewater Advisors Inc. boosted its holdings in shares of 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 in the last quarter. Pekin Hardy Strauss Inc. increased its stake in shares of Trane Technologies by 9.2% during the third quarter. Pekin Hardy Strauss Inc. now owns 546 shares of the company’s stock worth $230,000 after acquiring an additional 46 shares during the period. Finally, NewEdge Wealth LLC raised its holdings in Trane Technologies by 4.9% during the third quarter. NewEdge Wealth LLC now owns 2,974 shares of the company’s stock worth $1,297,000 after purchasing an additional 139 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TT. Barclays lifted their price objective on Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Bank of America upgraded Trane Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $490.00 to $550.00 in a research report on Thursday, November 13th. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target on the stock in a research note on Wednesday, January 7th. Citigroup raised their price objective on Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, Wells Fargo & Company boosted their target price on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” 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 given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

Trane Technologies Trading Up 0.7%

Shares of Trane Technologies stock opened at $466.84 on Friday. The business has a 50 day moving average price of $410.60 and a 200 day moving average price of $415.60. The company has a market capitalization of $103.32 billion, a P/E ratio of 35.97, a P/E/G ratio of 2.44 and a beta of 1.21. 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 plc has a 1 year low of $298.15 and a 1 year high of $479.37.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates 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%.The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.61 earnings per share. Sell-side analysts anticipate 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. Stockholders of record on Friday, March 6th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. 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 payout ratio is 28.97%.

Insider Buying and Selling

In other news, CAO Elizabeth A. Elwell sold 137 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.48, for a total transaction of $63,359.76. Following the completion of the sale, the chief accounting officer directly owned 7,100 shares in the company, valued at $3,283,608. This trade represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Donald E. Simmons sold 822 shares of the firm’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 sale, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,766,554.83. This trade represents a 17.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 8,936 shares of company stock valued at $4,133,991. Insiders own 0.14% of the company’s stock.

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.