Trane Technologies plc (NYSE:TT) Stock Holdings Lifted by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI raised its position in Trane Technologies plc (NYSE:TT) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,601 shares of the company’s stock after purchasing an additional 196 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Trane Technologies were worth $961,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vista Investment Partners II LLC acquired a new stake in shares of Trane Technologies in the fourth quarter worth about $332,000. Tortoise Investment Management LLC lifted its position in shares of Trane Technologies by 6.5% in the fourth quarter. Tortoise Investment Management LLC now owns 537 shares of the company’s stock worth $198,000 after buying an additional 33 shares during the last quarter. Independent Advisor Alliance lifted its position in shares of Trane Technologies by 17.9% in the fourth quarter. Independent Advisor Alliance now owns 6,298 shares of the company’s stock worth $2,326,000 after buying an additional 954 shares during the last quarter. Marvin & Palmer Associates Inc. lifted its position in shares of Trane Technologies by 58.4% in the fourth quarter. Marvin & Palmer Associates Inc. now owns 13,017 shares of the company’s stock worth $4,808,000 after buying an additional 4,799 shares during the last quarter. Finally, Johnson Investment Counsel Inc. lifted its position in shares of Trane Technologies by 14.7% in the fourth quarter. Johnson Investment Counsel Inc. now owns 1,287 shares of the company’s stock worth $475,000 after buying an additional 165 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Wells Fargo & Company cut their price objective on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. UBS Group cut their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research report on Tuesday, January 28th. Finally, Barclays cut their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $413.69.

Insider Activity

In related news, CEO David S. Regnery sold 2,754 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the sale, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the sale, the senior vice president now owns 13,401 shares in the company, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,234 shares of company stock worth $2,588,102. Company insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 1.7 %

TT stock opened at $339.72 on Thursday. Trane Technologies plc has a 1-year low of $285.62 and a 1-year high of $422.00. The firm has a market cap of $76.20 billion, a P/E ratio of 30.20, a P/E/G ratio of 2.50 and a beta of 1.08. The business’s 50 day moving average is $366.02 and its 200-day moving average is $380.11. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Equities analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $0.94 dividend. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio is currently 33.42%.

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.