Citigroup Inc. Has $135.24 Million Position in Trane Technologies plc $TT

Citigroup Inc. decreased its holdings in Trane Technologies plc (NYSE:TT) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 320,507 shares of the company’s stock after selling 10,312 shares during the quarter. Citigroup Inc. owned 0.14% of Trane Technologies worth $135,241,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Trane Technologies by 1.7% in the second quarter. Vanguard Group Inc. now owns 19,792,410 shares of the company’s stock worth $8,657,398,000 after purchasing an additional 335,634 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Trane Technologies by 10.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock worth $6,550,975,000 after buying an additional 1,433,563 shares in the last quarter. State Street Corp lifted its position in shares of Trane Technologies by 0.3% during the 2nd quarter. State Street Corp now owns 10,077,267 shares of the company’s stock worth $4,407,904,000 after buying an additional 31,826 shares during the period. Geode Capital Management LLC boosted its stake in Trane Technologies by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,973,217 shares of the company’s stock valued at $2,164,764,000 after buying an additional 56,293 shares in the last quarter. Finally, Norges Bank acquired a new position in Trane Technologies during the second quarter worth $1,356,065,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Performance

TT stock opened at $466.84 on Friday. The company has a 50 day moving average price of $410.60 and a 200 day moving average price of $415.51. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $479.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. The stock has a market capitalization of $103.32 billion, a PE ratio of 35.97, a price-to-earnings-growth ratio of 2.46 and a beta of 1.21.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating the consensus estimate of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same period last year, the firm earned $2.61 EPS. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, March 6th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio is currently 28.97%.

Insider Buying and Selling at Trane Technologies

In related news, CAO Elizabeth A. Elwell sold 137 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.48, for a total value of $63,359.76. Following the transaction, the chief accounting officer directly owned 7,100 shares in the company, valued at $3,283,608. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 2,389 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the completion of the transaction, the chief financial officer directly owned 60,486 shares in the company, valued at approximately $27,986,872.20. The trade was a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 8,936 shares of company stock worth $4,133,991 over the last quarter. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on TT. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price on the stock in a research note on Monday, December 15th. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a report on Wednesday, January 7th. Barclays lifted their target price on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Finally, Wells Fargo & Company raised their price target on Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $484.67.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.