1,335 Shares in Trane Technologies plc (NYSE:TT) Bought by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new position in Trane Technologies plc (NYSE:TT - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,335 shares of the company's stock, valued at approximately $519,000.

Several other institutional investors also recently modified their holdings of the company. Albar Capital Ltd bought a new position in Trane Technologies in the 2nd quarter valued at $14,556,000. GDS Wealth Management raised its position in shares of Trane Technologies by 4.3% during the third quarter. GDS Wealth Management now owns 51,767 shares of the company's stock worth $20,123,000 after acquiring an additional 2,124 shares during the last quarter. King Wealth Management Group bought a new stake in shares of Trane Technologies during the third quarter worth $1,879,000. Gradient Investments LLC increased its holdings in Trane Technologies by 7,988.0% in the second quarter. Gradient Investments LLC now owns 2,022 shares of the company's stock valued at $665,000 after purchasing an additional 1,997 shares during the last quarter. Finally, QRG Capital Management Inc. increased its holdings in Trane Technologies by 4.1% in the second quarter. QRG Capital Management Inc. now owns 39,475 shares of the company's stock valued at $12,985,000 after purchasing an additional 1,554 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. UBS Group assumed coverage on Trane Technologies in a report on Wednesday, November 13th. They issued a "buy" rating and a $500.00 price objective for the company. Morgan Stanley started coverage on Trane Technologies in a report on Friday, September 6th. They issued an "overweight" rating and a $425.00 price target for the company. Robert W. Baird lowered their price target on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. Barclays increased their price target on Trane Technologies from $440.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Wells Fargo & Company increased their price target on Trane Technologies from $320.00 to $360.00 and gave the stock an "underweight" rating in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $401.93.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction on 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 sale, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Stock Down 0.5 %

TT stock traded down $1.89 during trading on Friday, reaching $412.33. 478,153 shares of the stock were exchanged, compared to its average volume of 1,113,997. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The firm's 50 day moving average is $400.29 and its 200 day moving average is $361.49. The firm has a market cap of $92.78 billion, a P/E ratio of 38.50, a price-to-earnings-growth ratio of 2.50 and a beta of 1.03. Trane Technologies plc has a twelve month low of $229.07 and a twelve month high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts' consensus estimates of $3.23 by $0.14. The firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company's revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.79 EPS. As a group, research analysts forecast that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.81%. The ex-dividend date is Friday, December 6th. Trane Technologies's dividend payout ratio (DPR) is 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.