Raiffeisen Bank International AG Has $2.21 Million Stake in Trane Technologies plc (NYSE:TT)

Key Points

• Raiffeisen Bank International AG has reduced its stake in Trane Technologies plc by 17.3%, owning 6,663 shares valued at approximately $2.21 million after selling 1,389 shares in the first quarter.
• Analysts have a mixed outlook on Trane Technologies, with target prices ranging from $400 to $520, reflecting a consensus average price target of $455.67 and a rating of "Hold."
• Trane Technologies recently reported earnings of $3.88 EPS, surpassing expectations, and announced a quarterly dividend of $0.94 per share, with a yield of 0.9% scheduled for distribution at the end of September.

Raiffeisen Bank International AG cut its position in Trane Technologies plc (NYSE:TT - Free Report) by 17.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,663 shares of the company's stock after selling 1,389 shares during the quarter. Raiffeisen Bank International AG's holdings in Trane Technologies were worth $2,212,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. Haven Private LLC grew its position in shares of Trane Technologies by 1.6% during the 1st quarter. Haven Private LLC now owns 2,828 shares of the company's stock worth $953,000 after purchasing an additional 44 shares in the last quarter. Blair William & Co. IL raised its position in shares of Trane Technologies by 30.0% in the first quarter. Blair William & Co. IL now owns 22,230 shares of the company's stock valued at $7,490,000 after buying an additional 5,128 shares in the last quarter. Heritage Trust Co boosted its stake in shares of Trane Technologies by 2.4% in the first quarter. Heritage Trust Co now owns 2,620 shares of the company's stock valued at $883,000 after buying an additional 62 shares during the period. Argent Trust Co grew its position in Trane Technologies by 8.9% during the first quarter. Argent Trust Co now owns 1,592 shares of the company's stock worth $536,000 after buying an additional 130 shares in the last quarter. Finally, Manchester Capital Management LLC increased its stake in Trane Technologies by 7.3% during the 1st quarter. Manchester Capital Management LLC now owns 1,615 shares of the company's stock worth $544,000 after acquiring an additional 110 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TT shares. JPMorgan Chase & Co. increased their target price on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Barclays upped their price objective on shares of Trane Technologies from $480.00 to $495.00 and gave the stock an "overweight" rating in a research report on Thursday. The Goldman Sachs Group raised their target price on shares of Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Morgan Stanley upped their price target on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Royal Bank Of Canada increased their price target on shares of Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $455.67.

Trane Technologies Stock Performance

NYSE:TT opened at $439.01 on Monday. The stock's 50-day moving average is $435.56 and its 200-day moving average is $388.63. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock has a market cap of $97.68 billion, a P/E ratio of 34.81, a price-to-earnings-growth ratio of 2.80 and a beta of 1.09.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $3.88 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 business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same period last year, the company earned $3.30 EPS. The firm's revenue was up 7.6% compared to the same quarter last year. Equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.9%. Trane Technologies's payout ratio is presently 29.82%.

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.

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