4,500 Shares in Trane Technologies plc (NYSE:TT) Purchased by Freemont Management S.A.

Freemont Management S.A. purchased a new stake in Trane Technologies plc (NYSE:TT - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,500 shares of the company's stock, valued at approximately $1,749,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Albar Capital Ltd acquired a new position in shares of Trane Technologies during the second quarter valued at about $14,556,000. M&G Plc acquired a new position in shares of Trane Technologies during the first quarter valued at about $8,939,000. GDS Wealth Management grew its holdings 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 valued at $20,123,000 after buying an additional 2,124 shares during the last quarter. Gradient Investments LLC grew its holdings in shares of Trane Technologies by 7,988.0% during the second 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 holdings 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 valued at $15,988,000 after buying an additional 12,045 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

TT has been the subject of a number of analyst reports. Hsbc Global Res cut shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 31st. Morgan Stanley began coverage on shares of Trane Technologies in a research report on Friday, September 6th. They set an "overweight" rating and a $425.00 target price on the stock. Barclays boosted their target price on Trane Technologies from $425.00 to $440.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. UBS Group assumed coverage on Trane Technologies in a research report on Wednesday. They set a "buy" rating and a $500.00 price target for the company. Finally, Stephens restated an "equal weight" rating and issued a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of "Hold" and a consensus target price of $389.77.

Trane Technologies Stock Performance

Shares of TT stock traded down $4.87 on Thursday, hitting $410.13. 884,927 shares of the stock were exchanged, compared to its average volume of 1,117,300. 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 has a market capitalization of $92.29 billion, a PE ratio of 38.49, a P/E/G ratio of 2.60 and a beta of 1.02. Trane Technologies plc has a one year low of $221.22 and a one year high of $421.78. The firm's 50 day moving average is $385.43 and its two-hundred day moving average is $351.65.

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 for the quarter, topping the consensus estimate of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm's quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.79 EPS. Sell-side analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a dividend of $0.84 per share. 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 0.82%. Trane Technologies's dividend payout ratio (DPR) is 31.17%.

About Trane Technologies

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.