Wilmington Savings Fund Society FSB Invests $3.92 Million in Trane Technologies plc (NYSE:TT)

Wilmington Savings Fund Society FSB purchased a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,074 shares of the company's stock, valued at approximately $3,916,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sfmg LLC lifted its position in Trane Technologies by 1.5% during the 3rd quarter. Sfmg LLC now owns 2,441 shares of the company's stock worth $949,000 after acquiring an additional 36 shares during the last quarter. World Investment Advisors LLC grew its holdings in Trane Technologies by 5,253.1% in the 3rd quarter. World Investment Advisors LLC now owns 34,581 shares of the company's stock valued at $13,443,000 after buying an additional 33,935 shares during the last quarter. Sanctuary Advisors LLC increased its position in Trane Technologies by 22.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,981 shares of the company's stock worth $12,934,000 after buying an additional 5,740 shares during the period. TCW Group Inc. lifted its holdings in shares of Trane Technologies by 24.9% during the third quarter. TCW Group Inc. now owns 39,918 shares of the company's stock worth $15,517,000 after buying an additional 7,968 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its stake in shares of Trane Technologies by 7.1% in the third quarter. TD Private Client Wealth LLC now owns 1,007 shares of the company's stock worth $391,000 after acquiring an additional 67 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Insiders Place Their Bets

In other news, SVP Mairead Magner sold 4,329 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.38% of the company's stock.

Trane Technologies Price Performance

Shares of Trane Technologies stock traded down $0.15 during trading on Friday, reaching $399.51. The company's stock had a trading volume of 488,239 shares, compared to its average volume of 1,115,000. The stock has a 50-day moving average price of $401.83 and a two-hundred day moving average price of $363.86. The stock has a market capitalization of $89.90 billion, a P/E ratio of 37.07, a price-to-earnings-growth ratio of 2.43 and a beta of 1.03. 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 plc has a one year low of $233.76 and a one year high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. 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 earned $2.79 earnings per share. As a group, sell-side analysts anticipate that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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

Analysts Set New Price Targets

TT has been the subject of a number of research reports. Robert W. Baird reduced their price target on shares of Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. Citigroup boosted their price target on Trane Technologies from $457.00 to $478.00 and gave the company a "buy" rating in a research note on Monday. UBS Group assumed coverage on Trane Technologies in a research report on Wednesday, November 13th. They issued a "buy" rating and a $500.00 price objective for the company. Hsbc Global Res lowered Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. Finally, Northcoast Research began coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They set a "buy" rating and a $500.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $409.93.

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.