AustralianSuper Pty Ltd Raises Stock Holdings in Trane Technologies plc (NYSE:TT)

AustralianSuper Pty Ltd grew its stake in shares of Trane Technologies plc (NYSE:TTFree Report) by 25.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,492 shares of the company’s stock after acquiring an additional 6,291 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Trane Technologies were worth $12,242,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Trane Technologies by 0.9% in the first quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock worth $5,670,032,000 after purchasing an additional 174,251 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Trane Technologies by 0.5% in the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock worth $5,221,599,000 after buying an additional 80,536 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Trane Technologies by 35,914.4% in the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after acquiring an additional 1,640,569 shares during the period. Mackenzie Financial Corp increased its position in Trane Technologies by 0.3% during the second quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock valued at $357,043,000 after acquiring an additional 2,898 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in Trane Technologies by 3.1% in the third quarter. Raymond James & Associates now owns 1,076,484 shares of the company’s stock valued at $418,462,000 after acquiring an additional 32,079 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

Shares of TT stock traded down $8.33 during trading hours on Thursday, hitting $367.19. The stock had a trading volume of 557,346 shares, compared to its average volume of 1,096,750. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84. The stock has a market capitalization of $83.11 billion, a price-to-earnings ratio of 39.20, a PEG ratio of 2.70 and a beta of 1.01. Trane Technologies plc has a one year low of $186.24 and a one year high of $406.96. The stock’s 50-day moving average price is $376.97 and its two-hundred day moving average price is $344.61.

Trane Technologies (NYSE:TTGet Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the firm earned $2.79 earnings per share. Trane Technologies’s revenue was up 10.0% on a year-over-year basis. Equities analysts forecast that Trane Technologies plc will post 10.89 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is 35.90%.

Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the transaction, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TT. Barclays boosted their price target on Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a report on Thursday. Wells Fargo & Company lifted their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Royal Bank of Canada upped their price objective on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group lifted their target price on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and a consensus target price of $379.00.

View Our Latest Analysis on TT

Trane Technologies Profile

(Free Report)

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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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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