Banco Santander S.A. Takes Position in Trane Technologies plc (NYSE:TT)

Banco Santander S.A. purchased a new stake in Trane Technologies plc (NYSE:TT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,160 shares of the company's stock, valued at approximately $728,000.

Other large investors also recently made changes to their positions in the company. Csenge Advisory Group raised its stake in Trane Technologies by 0.6% during the 1st quarter. Csenge Advisory Group now owns 3,944 shares of the company's stock worth $1,314,000 after buying an additional 25 shares during the period. Fiera Capital Corp grew its stake in Trane Technologies by 1.4% in the first quarter. Fiera Capital Corp now owns 1,930 shares of the company's stock valued at $650,000 after acquiring an additional 27 shares during the period. Bingham Private Wealth LLC grew its stake in Trane Technologies by 3.2% in the first quarter. Bingham Private Wealth LLC now owns 944 shares of the company's stock valued at $318,000 after acquiring an additional 29 shares during the period. Quadrant Capital Group LLC grew its stake in Trane Technologies by 0.8% in the fourth quarter. Quadrant Capital Group LLC now owns 3,786 shares of the company's stock valued at $1,398,000 after acquiring an additional 30 shares during the period. Finally, Tradewinds Capital Management LLC grew its stake in Trane Technologies by 46.2% in the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock valued at $32,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Trading Down 1.1%

Shares of TT stock opened at $434.25 on Tuesday. The firm has a 50 day moving average price of $435.77 and a two-hundred day moving average price of $388.94. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $96.63 billion, a PE ratio of 34.44, a price-to-earnings-growth ratio of 2.80 and a beta of 1.09. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same period last year, the business posted $3.30 earnings per share. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 5th. Trane Technologies's payout ratio is presently 29.82%.

Analyst Ratings Changes

A number of research firms have issued reports on TT. Hsbc Global Res cut Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Northcoast Research cut Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday. Royal Bank Of Canada increased their target price on Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Robert W. Baird increased their target price on Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, Morgan Stanley lifted their target price on Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $455.67.

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.

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