Raiffeisen Bank International AG Boosts Stake in Trane Technologies plc $TT

Raiffeisen Bank International AG boosted its stake in Trane Technologies plc (NYSE:TT) by 208.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 86,621 shares of the company’s stock after buying an additional 58,547 shares during the quarter. Raiffeisen Bank International AG’s holdings in Trane Technologies were worth $33,930,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Tucker Asset Management LLC purchased a new position in shares of Trane Technologies during the 4th quarter worth $25,000. Hilton Head Capital Partners LLC purchased a new position in Trane Technologies in the fourth quarter valued at about $32,000. JPL Wealth Management LLC purchased a new position in Trane Technologies in the third quarter valued at about $32,000. Creative Financial Designs Inc. ADV raised its position in Trane Technologies by 119.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock valued at $35,000 after purchasing an additional 49 shares during the period. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Trane Technologies during the third quarter worth about $42,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the transaction, the chief financial officer owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. BNP Paribas Exane assumed coverage on Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price on the stock. Citigroup increased their target price on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, May 1st. KeyCorp increased their target price on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Royal Bank Of Canada increased their target price on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Finally, Barclays increased their target price on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $509.12.

Trane Technologies Stock Performance

Shares of TT stock opened at $459.89 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average of $462.86 and a two-hundred day moving average of $432.97. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $503.47. The company has a market cap of $101.66 billion, a P/E ratio of 35.57, a PEG ratio of 2.07 and a beta of 1.20.

Trane Technologies (NYSE:TT) last issued its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The company had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.Trane Technologies’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.45 earnings per share. As a group, analysts anticipate that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be given a dividend of $1.05 per share. The ex-dividend date is Friday, September 4th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s payout ratio is currently 32.48%.

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.