HighTower Advisors LLC Has $46.23 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

HighTower Advisors LLC reduced its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 12.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,847 shares of the company's stock after selling 16,539 shares during the quarter. HighTower Advisors LLC owned about 0.05% of Trane Technologies worth $46,230,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TT. International Assets Investment Management LLC raised its position in shares of Trane Technologies by 35,914.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company's stock worth $639,514,000 after buying an additional 1,640,569 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company's stock worth $991,460,000 after purchasing an additional 671,691 shares in the last quarter. 1832 Asset Management L.P. lifted its position in Trane Technologies by 7,363.1% in the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company's stock worth $139,067,000 after purchasing an additional 417,120 shares during the period. FMR LLC boosted its stake in Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company's stock valued at $4,018,563,000 after purchasing an additional 397,537 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of Trane Technologies by 162.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company's stock worth $147,263,000 after buying an additional 277,274 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Insider Activity at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction dated Wednesday, December 4th. The shares were 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 directly owns 12,893 shares in the company, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on TT. UBS Group started coverage on shares of Trane Technologies in a research report on Wednesday, November 13th. They issued a "buy" rating and a $500.00 price target on the stock. Wells Fargo & Company lifted their price target on Trane Technologies from $320.00 to $360.00 and gave the company an "underweight" rating in a report on Monday, October 7th. Mizuho lifted their target price on Trane Technologies from $325.00 to $400.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. HSBC downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 price objective on the stock. in a research report on Thursday, October 31st. Finally, Hsbc Global Res cut 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 given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Trane Technologies currently has an average rating of "Hold" and an average target price of $401.93.

Trane Technologies Stock Performance

TT traded down $2.40 during trading on Thursday, hitting $415.08. The stock had a trading volume of 1,072,472 shares, compared to its average volume of 1,116,747. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 12 month low of $229.07 and a 12 month high of $422.00. The company has a 50 day simple moving average of $400.29 and a 200-day simple moving average of $361.49. The firm has a market cap of $93.40 billion, a PE ratio of 38.50, a P/E/G ratio of 2.50 and a beta of 1.03.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the company earned $2.79 EPS. The firm's revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts expect that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies's dividend payout ratio is currently 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.