EULAV Asset Management Acquires 10,000 Shares of Trane Technologies plc (NYSE:TT)

EULAV Asset Management boosted its stake in Trane Technologies plc (NYSE:TT - Free Report) by 52.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,000 shares of the company's stock after purchasing an additional 10,000 shares during the period. EULAV Asset Management's holdings in Trane Technologies were worth $11,273,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TT. Albar Capital Ltd acquired a new stake in shares of Trane Technologies during the second quarter valued at about $14,556,000. GDS Wealth Management grew its stake in Trane Technologies by 4.3% during the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company's stock valued at $20,123,000 after purchasing an additional 2,124 shares in the last quarter. King Wealth Management Group acquired a new position in shares of Trane Technologies in the 3rd quarter valued at approximately $1,879,000. Gradient Investments LLC boosted its stake in shares of Trane Technologies by 7,988.0% during the 2nd quarter. Gradient Investments LLC now owns 2,022 shares of the company's stock valued at $665,000 after buying an additional 1,997 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in shares of Trane Technologies by 29.2% during the first quarter. Bessemer Group Inc. now owns 53,255 shares of the company's stock worth $15,988,000 after buying an additional 12,045 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. UBS Group began coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They issued a "buy" rating and a $500.00 price target on the stock. Mizuho lifted their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Royal Bank of Canada increased their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a "sector perform" rating in a report on Thursday, August 1st. HSBC downgraded Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 price target for the company. in a report on Thursday, October 31st. Finally, Hsbc Global Res downgraded shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $389.77.

Trane Technologies Price Performance

Shares of TT traded down $1.87 during mid-day trading on Wednesday, hitting $411.16. The company's stock had a trading volume of 802,174 shares, compared to its average volume of 1,112,751. Trane Technologies plc has a fifty-two week low of $221.22 and a fifty-two week high of $421.78. The stock has a market capitalization of $92.52 billion, a price-to-earnings ratio of 38.32, a PEG ratio of 2.58 and a beta of 1.02. The firm has a 50-day moving average price of $390.71 and a 200 day moving average price of $354.63. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92.

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

Trane Technologies Announces Dividend

The business also recently declared 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 dividend yield of 0.82%. Trane Technologies's dividend payout ratio (DPR) is 31.17%.

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.