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

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

A number of other large investors also recently bought and sold shares of TT. FMR LLC raised its position in shares of Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after purchasing an additional 397,537 shares during the period. State Street Corp increased its position in Trane Technologies by 0.8% in the 3rd quarter. State Street Corp now owns 9,769,161 shares of the company’s stock valued at $3,797,565,000 after acquiring an additional 77,830 shares during the period. Geode Capital Management LLC increased its position in Trane Technologies by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock valued at $1,797,700,000 after acquiring an additional 65,991 shares during the period. Massachusetts Financial Services Co. MA increased its position in Trane Technologies by 35.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after acquiring an additional 671,691 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Trane Technologies by 0.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock valued at $832,691,000 after acquiring an additional 20,151 shares during the period. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $339.72 on Thursday. Trane Technologies plc has a 52-week low of $285.62 and a 52-week high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $76.20 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 2.50 and a beta of 1.08. The stock’s fifty day simple moving average is $366.02 and its 200 day simple moving average is $380.11.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. As a group, sell-side analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

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

Insider Activity

In other news, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction 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 transaction, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the transaction, the chief financial officer now owns 63,841 shares in the company, valued at $22,818,050.22. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TT has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Northcoast Research assumed coverage on Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. Citigroup decreased their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada increased their price target on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. Finally, Melius Research reaffirmed a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average price target of $413.69.

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.