Citizens Financial Group Inc. RI Grows Position in Trane Technologies plc (NYSE:TT)

Citizens Financial Group Inc. RI increased its stake in Trane Technologies plc (NYSE:TT) by 41.9% during the 3rd quarter, Holdings Channel reports. The firm owned 2,405 shares of the company’s stock after purchasing an additional 710 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Trane Technologies were worth $935,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TT. MidAtlantic Capital Management Inc. bought a new position in shares of Trane Technologies in the 3rd quarter worth $27,000. DT Investment Partners LLC purchased a new stake in Trane Technologies during the third quarter valued at about $36,000. Pittenger & Anderson Inc. bought a new stake in Trane Technologies during the third quarter worth about $39,000. Fortitude Family Office LLC boosted its holdings in shares of Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after purchasing an additional 43 shares in the last quarter. Finally, Triad Wealth Partners LLC bought a new position in shares of Trane Technologies during the 2nd quarter valued at about $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TT. The Goldman Sachs Group boosted their target price on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. UBS Group began coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price on the stock. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Mizuho raised their price objective on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Barclays boosted their target price on Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus target price of $397.64.

Trane Technologies Stock Up 0.5 %

Shares of Trane Technologies stock opened at $417.42 on Friday. The company’s fifty day simple moving average is $394.03 and its two-hundred day simple moving average is $356.08. Trane Technologies plc has a 12-month low of $221.22 and a 12-month high of $421.78. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The company has a market cap of $93.93 billion, a P/E ratio of 38.72, a PEG ratio of 2.62 and a beta of 1.02.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the prior year, the firm earned $2.79 earnings per share. Trane Technologies’s revenue was up 10.0% on a year-over-year basis. Research analysts anticipate that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.80%. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

About Trane Technologies

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.