Geode Capital Management LLC raised its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,638,914 shares of the company's stock after purchasing an additional 65,991 shares during the quarter. Geode Capital Management LLC owned 2.06% of Trane Technologies worth $1,797,700,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Brophy Wealth Management LLC acquired a new position in shares of Trane Technologies in the third quarter valued at $1,372,000. Continuum Advisory LLC raised its stake in shares of Trane Technologies by 8.4% in the 3rd quarter. Continuum Advisory LLC now owns 2,411 shares of the company's stock valued at $989,000 after buying an additional 187 shares in the last quarter. LRI Investments LLC raised its stake in shares of Trane Technologies by 7,917.2% in the 3rd quarter. LRI Investments LLC now owns 40,487 shares of the company's stock valued at $15,739,000 after buying an additional 39,982 shares in the last quarter. Geller Advisors LLC acquired a new position in Trane Technologies in the third quarter worth about $279,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Trane Technologies in the 3rd quarter worth approximately $40,519,000. Institutional investors and hedge funds own 82.97% of the company's stock.
Trane Technologies Trading Up 0.7 %
TT traded up $2.70 during trading on Wednesday, reaching $400.12. 867,134 shares of the company's stock were exchanged, compared to its average volume of 1,118,269. The company's fifty day moving average price is $401.33 and its 200-day moving average price is $363.35. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The firm has a market capitalization of $90.04 billion, a PE ratio of 36.87, a P/E/G ratio of 2.50 and a beta of 1.03. Trane Technologies plc has a fifty-two week low of $233.76 and a fifty-two week 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 earnings per share (EPS) for the quarter, beating 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 firm 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 business's revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities analysts forecast that Trane Technologies plc will post 11.13 EPS for the current year.
Trane Technologies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies's payout ratio is 31.17%.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on TT shares. Northcoast Research began coverage on Trane Technologies in a report on Friday, November 22nd. They set a "buy" rating and a $500.00 price objective for the company. Morgan Stanley started coverage on Trane Technologies in a research report on Friday, September 6th. They set an "overweight" rating and a $425.00 price target on the stock. Mizuho lifted their price objective on Trane Technologies from $325.00 to $400.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Robert W. Baird lowered their target price on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. Finally, Hsbc Global Res downgraded shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $409.93.
Read Our Latest Stock Report on Trane Technologies
Insiders Place Their Bets
In other news, SVP Mairead Magner sold 4,329 shares of the firm's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.38% of the company's stock.
Trane Technologies Profile
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Free Report)
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.
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