Huntington National Bank Has $2.07 Million Stake in Trane Technologies plc (NYSE:TT)

Huntington National Bank increased its stake in Trane Technologies plc (NYSE:TT) by 5.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,334 shares of the company’s stock after purchasing an additional 283 shares during the period. Huntington National Bank’s holdings in Trane Technologies were worth $2,073,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. DT Investment Partners LLC acquired a new position in Trane Technologies during the third quarter valued at approximately $36,000. Pittenger & Anderson Inc. acquired a new stake in Trane Technologies in the third quarter valued at $39,000. Fortitude Family Office LLC grew its position in shares of Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after acquiring an additional 43 shares during the period. Triad Wealth Partners LLC acquired a new position in shares of Trane Technologies during the 2nd quarter worth about $39,000. Finally, Quarry LP acquired a new stake in Trane Technologies in the 2nd quarter valued at about $39,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE:TT opened at $407.60 on Friday. The stock’s 50-day moving average is $386.78 and its 200-day moving average is $352.06. The stock has a market cap of $91.72 billion, a P/E ratio of 37.81, a price-to-earnings-growth ratio of 2.63 and a beta of 1.02. Trane Technologies plc has a 1-year low of $221.22 and a 1-year high of $421.78. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. Trane Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.79 earnings per share. Equities research analysts anticipate that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio is presently 31.17%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TT. Barclays increased their price objective on shares of Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Stephens reaffirmed an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a research report on Monday, August 5th. The Goldman Sachs Group lifted their target price on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $389.77.

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.