Trane Technologies plc (NYSE:TT) Shares Acquired by Quarry LP

Quarry LP raised its stake in Trane Technologies plc (NYSE:TT - Free Report) by 1,198.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,545 shares of the company's stock after buying an additional 1,426 shares during the period. Quarry LP's holdings in Trane Technologies were worth $601,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TT. CWM LLC lifted its holdings in shares of Trane Technologies by 12.0% in the second quarter. CWM LLC now owns 6,483 shares of the company's stock valued at $2,132,000 after purchasing an additional 697 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its position in shares of Trane Technologies by 14.8% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 1,137 shares of the company's stock valued at $374,000 after buying an additional 147 shares during the last quarter. CHICAGO TRUST Co NA boosted its position in Trane Technologies by 29.1% during the second quarter. CHICAGO TRUST Co NA now owns 4,193 shares of the company's stock worth $1,379,000 after acquiring an additional 944 shares during the last quarter. City Holding Co. grew its stake in Trane Technologies by 0.7% in the 2nd quarter. City Holding Co. now owns 15,746 shares of the company's stock worth $5,179,000 after acquiring an additional 103 shares during the period. Finally, First National Corp MA ADV acquired a new position in Trane Technologies in the 2nd quarter valued at $221,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Down 0.6 %

NYSE TT traded down $2.63 on Thursday, reaching $414.85. The company had a trading volume of 604,871 shares, compared to its average volume of 1,114,549. 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 plc has a 1 year low of $229.07 and a 1 year high of $422.00. The firm has a 50-day moving average of $399.72 and a 200-day moving average of $361.12. The firm has a market capitalization of $93.35 billion, a PE ratio of 38.27, a P/E/G ratio of 2.50 and a beta of 1.03.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.79 EPS. On average, equities research analysts anticipate that Trane Technologies plc will post 11.14 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.81%. Trane Technologies's dividend payout ratio is presently 31.17%.

Analysts Set New Price Targets

Several research firms recently weighed in on TT. UBS Group began coverage on Trane Technologies in a research report on Wednesday, November 13th. They set a "buy" rating and a $500.00 target price on the stock. The Goldman Sachs Group raised their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Wells Fargo & Company upped their price target on shares of 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 began coverage on shares of Trane Technologies in a report on Friday, November 22nd. They issued a "buy" rating and a $500.00 price target on the stock. Finally, Robert W. Baird dropped their price objective on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $401.93.

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.