Oddo BHF Asset Management Sas Takes $634,000 Position in Trane Technologies plc (NYSE:TT)

Oddo BHF Asset Management Sas purchased a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,632 shares of the company's stock, valued at approximately $634,000.

Several other hedge funds have also made changes to their positions in the business. FMR LLC grew its position in shares of Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company's stock worth $4,018,563,000 after acquiring an additional 397,537 shares in the last quarter. State Street Corp boosted its position in Trane Technologies by 0.8% during the 3rd quarter. State Street Corp now owns 9,769,161 shares of the company's stock worth $3,797,565,000 after acquiring an additional 77,830 shares during the period. Geode Capital Management LLC grew its position in Trane Technologies by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company's stock valued at $1,797,700,000 after buying an additional 65,991 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Trane Technologies by 35.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company's stock worth $991,460,000 after buying an additional 671,691 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Trane Technologies by 0.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company's stock valued at $832,691,000 after acquiring an additional 20,151 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Buying and Selling

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the business's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. The trade was a 25.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TT has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on Trane Technologies from $320.00 to $360.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. Northcoast Research started coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They issued a "buy" rating and a $500.00 target price on the stock. Mizuho upped their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Citigroup upped their target price on shares of Trane Technologies from $457.00 to $478.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Finally, Hsbc Global Res cut shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $409.93.

Trane Technologies Price Performance

Trane Technologies stock traded down $0.30 during midday trading on Friday, hitting $399.36. 852,589 shares of the company's stock were exchanged, compared to its average volume of 1,116,656. The stock has a 50-day moving average price of $402.05 and a two-hundred day moving average price of $364.54. Trane Technologies plc has a 52-week low of $233.76 and a 52-week high of $422.00. 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 company has a market cap of $89.87 billion, a P/E ratio of 37.05, a PEG ratio of 2.43 and a beta of 1.03.

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, topping the consensus estimate 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 period last year, the company posted $2.79 EPS. The company's quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts forecast that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Announces Dividend

The company 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 $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 yield of 0.84%. Trane Technologies's payout ratio is currently 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.