Raiffeisen Bank International AG Invests $2.99 Million in Trane Technologies plc (NYSE:TT)

Raiffeisen Bank International AG bought a new position in shares of Trane Technologies plc (NYSE:TT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,052 shares of the company’s stock, valued at approximately $2,986,000.

A number of other hedge funds have also modified their holdings of TT. Norges Bank purchased a new position in shares of Trane Technologies during the fourth quarter worth approximately $1,117,816,000. Raymond James Financial Inc. purchased a new position in shares of Trane Technologies during the fourth quarter worth approximately $611,322,000. Northern Trust Corp lifted its holdings in shares of Trane Technologies by 20.1% during the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock worth $948,316,000 after purchasing an additional 429,953 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Trane Technologies during the fourth quarter worth $137,999,000. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Trane Technologies by 455.2% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock worth $167,977,000 after purchasing an additional 350,277 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Melius Research reaffirmed a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. UBS Group decreased their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Barclays decreased their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Wells Fargo & Company increased their price target on Trane Technologies from $330.00 to $370.00 and gave the stock an “underweight” rating in a report on Thursday, May 1st. Finally, Citigroup increased their price target on Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $421.07.

Insider Transactions at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the sale, the insider now owns 3,593 shares in the company, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Trane Technologies stock opened at $421.88 on Friday. The company has a market cap of $94.09 billion, a P/E 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. The business has a fifty day moving average of $356.17 and a two-hundred day moving average of $373.18.

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

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend 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 Company 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.