11,831 Shares in Trane Technologies plc (NYSE:TT) Bought by Plato Investment Management Ltd

Plato Investment Management Ltd acquired a new stake in Trane Technologies plc (NYSE:TT - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,831 shares of the company's stock, valued at approximately $4,594,000.

A number of other large investors have also added to or reduced their stakes in the business. Trust Point Inc. grew its position in shares of Trane Technologies by 3.1% in the 3rd quarter. Trust Point Inc. now owns 897 shares of the company's stock valued at $349,000 after buying an additional 27 shares during the last quarter. First Pacific Financial boosted its holdings in Trane Technologies by 1.1% in the third quarter. First Pacific Financial now owns 2,674 shares of the company's stock valued at $1,039,000 after acquiring an additional 28 shares during the last quarter. Greenleaf Trust increased its position in Trane Technologies by 0.5% during the 3rd quarter. Greenleaf Trust now owns 5,852 shares of the company's stock valued at $2,275,000 after purchasing an additional 29 shares during the period. Lake Street Advisors Group LLC raised its holdings in Trane Technologies by 1.6% during the 3rd quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company's stock worth $737,000 after purchasing an additional 30 shares during the last quarter. Finally, PFG Private Wealth Management LLC lifted its position in shares of Trane Technologies by 4.7% in the 2nd quarter. PFG Private Wealth Management LLC now owns 706 shares of the company's stock worth $232,000 after purchasing an additional 32 shares during the period. Institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Down 1.2 %

TT traded down $4.87 during trading on Thursday, hitting $410.13. 884,927 shares of the company's stock were exchanged, compared to its average volume of 1,117,300. The stock has a market cap of $92.29 billion, a P/E ratio of 38.49, a PEG ratio of 2.60 and a beta of 1.02. The business's 50 day moving average is $385.43 and its two-hundred day moving average is $351.65. Trane Technologies plc has a fifty-two week low of $221.22 and a fifty-two week high of $421.78. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly 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. The business had revenue of $5.44 billion for the quarter, compared to analysts' expectations of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.79 EPS. As a group, equities 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 declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies's payout ratio is currently 31.17%.

Analysts Set New Price Targets

Several research firms have recently weighed in on TT. Robert W. Baird decreased their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st. Stephens reissued an "equal weight" rating and issued a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. Barclays upped their target price on Trane Technologies from $425.00 to $440.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Royal Bank of Canada lifted their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a "sector perform" rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group increased their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a "neutral" rating in a 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 company. According to MarketBeat, Trane Technologies has a consensus rating of "Hold" and a consensus price target of $389.77.

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.