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

Citizens Financial Group Inc. RI trimmed its stake in shares of Trane Technologies plc (NYSE:TT) by 5.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,010 shares of the company’s stock after selling 63 shares during the period. Citizens Financial Group Inc. RI’s holdings in Trane Technologies were worth $304,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. GoalVest Advisory LLC lifted its position in Trane Technologies by 157.1% during the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Trane Technologies in the 1st quarter worth about $27,000. BOK Financial Private Wealth Inc. purchased a new position in Trane Technologies during the 1st quarter valued at about $30,000. Sachetta LLC purchased a new position in Trane Technologies during the 4th quarter valued at about $27,000. Finally, Motco purchased a new position in Trane Technologies during the 4th quarter valued at about $27,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

TT opened at $318.45 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.74. The firm has a fifty day moving average price of $331.66 and a 200 day moving average price of $305.55. Trane Technologies plc has a 1 year low of $184.02 and a 1 year high of $351.41. The stock has a market cap of $71.86 billion, a P/E ratio of 34.02, a P/E/G ratio of 2.50 and a beta of 1.01.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same period in the previous year, the business posted $2.68 EPS. The business’s revenue was up 12.8% compared to the same quarter last year. Equities research analysts anticipate that Trane Technologies plc will post 10.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.06%. The ex-dividend date is Friday, September 6th. Trane Technologies’s payout ratio is presently 35.90%.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the sale, the chief financial officer now owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the sale, the chief financial officer now owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Evan M. Turtz sold 8,988 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the sale, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TT shares. Stephens raised their target price on shares of Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $310.00 to $315.00 and gave the stock an “underweight” rating in a research report on Thursday. Mizuho lifted their price objective on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, TD Cowen boosted their target price on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $321.14.

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.