IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 1,313 Shares of Trane Technologies plc $TT

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its position in Trane Technologies plc (NYSE:TT) by 33.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,622 shares of the company’s stock after selling 1,313 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Trane Technologies were worth $1,106,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in Trane Technologies during the 2nd quarter worth about $1,356,065,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Trane Technologies by 229.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock valued at $766,583,000 after purchasing an additional 1,220,388 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Trane Technologies by 89.1% during the 2nd quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock valued at $1,066,845,000 after purchasing an additional 1,157,405 shares in the last quarter. ABN AMRO Bank N.V. bought a new stake in Trane Technologies in the second quarter worth approximately $291,206,000. Finally, Corient Private Wealth LLC increased its holdings in Trane Technologies by 135.4% in the second quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock worth $321,757,000 after purchasing an additional 423,090 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT opened at $455.35 on Friday. The firm has a market capitalization of $100.97 billion, a P/E ratio of 35.08, a P/E/G ratio of 2.30 and a beta of 1.21. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The stock has a 50 day moving average price of $398.25 and a two-hundred day moving average price of $414.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25.

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

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, March 6th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio (DPR) is currently 28.97%.

Analyst Ratings Changes

A number of research firms have issued reports on TT. KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target on the stock in a report on Monday, December 15th. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 30th. Oppenheimer increased their target price on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. UBS Group decreased their price target on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of “Moderate Buy” and a consensus price target 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.