1,689 Shares in Trane Technologies plc (NYSE:TT) Acquired by FUKOKU MUTUAL LIFE INSURANCE Co

FUKOKU MUTUAL LIFE INSURANCE Co bought a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,689 shares of the company's stock, valued at approximately $657,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Albar Capital Ltd bought a new position in shares of Trane Technologies during the second quarter valued at $14,556,000. M&G Plc acquired a new stake in shares of Trane Technologies during the first quarter worth about $8,939,000. GDS Wealth Management boosted its stake in Trane Technologies by 4.3% in the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company's stock worth $20,123,000 after purchasing an additional 2,124 shares during the period. Gradient Investments LLC lifted its stake in Trane Technologies by 7,988.0% in the 2nd quarter. Gradient Investments LLC now owns 2,022 shares of the company's stock valued at $665,000 after acquiring an additional 1,997 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in Trane Technologies by 29.2% in the 1st quarter. Bessemer Group Inc. now owns 53,255 shares of the company's stock valued at $15,988,000 after buying an additional 12,045 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on TT. Mizuho increased their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Barclays increased their price target on Trane Technologies from $425.00 to $440.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. HSBC downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 price objective for the company. in a research report on Thursday, October 31st. UBS Group assumed coverage on Trane Technologies in a report on Wednesday. They set a "buy" rating and a $500.00 price objective for the company. Finally, The Goldman Sachs Group raised their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Trane Technologies currently has an average rating of "Hold" and an average price target of $389.77.

Trane Technologies Stock Down 1.1 %

Trane Technologies stock traded down $4.36 during trading hours on Friday, reaching $405.76. The stock had a trading volume of 572,418 shares, compared to its average volume of 1,114,846. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $421.78. The business's 50 day moving average price is $386.78 and its 200-day moving average price is $352.06. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The company has a market cap of $91.30 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 2.63 and a beta of 1.02.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts' consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion during the quarter, compared to analysts' expectations of $5.32 billion. During the same quarter in the previous year, the company earned $2.79 earnings per share. The company's quarterly revenue was up 10.0% on a year-over-year basis. Sell-side analysts anticipate that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.83%. Trane Technologies's dividend payout ratio (DPR) is presently 31.17%.

Trane Technologies 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.