ING Groep NV Purchases 107,323 Shares of Trane Technologies plc (NYSE:TT)

ING Groep NV lifted its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 72.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 255,681 shares of the company's stock after buying an additional 107,323 shares during the quarter. Trane Technologies comprises about 0.6% of ING Groep NV's portfolio, making the stock its 27th largest holding. ING Groep NV owned approximately 0.11% of Trane Technologies worth $99,391,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of TT. Avantax Advisory Services Inc. increased its stake in shares of Trane Technologies by 5.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 7,748 shares of the company's stock valued at $2,326,000 after acquiring an additional 414 shares in the last quarter. Bleakley Financial Group LLC raised its stake in Trane Technologies by 3.9% in the first quarter. Bleakley Financial Group LLC now owns 3,716 shares of the company's stock valued at $1,116,000 after purchasing an additional 139 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in shares of Trane Technologies by 36.9% during the first quarter. Kingsview Wealth Management LLC now owns 3,875 shares of the company's stock worth $1,163,000 after acquiring an additional 1,045 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Trane Technologies by 84.6% in the first quarter. Lord Abbett & CO. LLC now owns 184,618 shares of the company's stock worth $55,422,000 after buying an additional 84,618 shares during the period. Finally, Wilkins Investment Counsel Inc. bought a new stake in Trane Technologies in the first quarter valued at $225,000. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

TT has been the subject of several recent analyst reports. UBS Group began coverage on Trane Technologies in a research report on Wednesday. They issued a "buy" rating and a $500.00 price target for the company. Hsbc Global Res downgraded Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. Wells Fargo & Company increased 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. Barclays increased their price target on Trane Technologies from $425.00 to $440.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group raised their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $389.77.

Trane Technologies Trading Down 1.2 %

TT stock traded down $4.87 during trading on Thursday, reaching $410.13. 884,927 shares of the stock traded hands, compared to its average volume of 1,117,300. The business's 50 day moving average price is $385.43 and its 200-day moving average price is $351.65. 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 52-week low of $221.22 and a 52-week high of $421.78. 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 earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.23 by $0.14. The company 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 business's revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.79 earnings per share. As a group, sell-side analysts forecast that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies's dividend payout ratio (DPR) is presently 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.