Royal London Asset Management Ltd. Has $200.38 Million Stock Position in Trane Technologies plc (NYSE:TT)

Royal London Asset Management Ltd. reduced its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 9.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 515,466 shares of the company's stock after selling 56,432 shares during the quarter. Royal London Asset Management Ltd. owned 0.23% of Trane Technologies worth $200,377,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. MidAtlantic Capital Management Inc. bought a new position in Trane Technologies during the 3rd quarter worth about $27,000. DT Investment Partners LLC bought a new stake in Trane Technologies in the 3rd quarter valued at approximately $36,000. Triad Wealth Partners LLC acquired a new position in Trane Technologies during the 2nd quarter worth approximately $39,000. Quarry LP bought a new position in shares of Trane Technologies during the 2nd quarter worth approximately $39,000. Finally, Pittenger & Anderson Inc. acquired a new stake in shares of Trane Technologies in the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Analysts Set New Price Targets

TT has been the subject of a number of analyst reports. Morgan Stanley started coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an "overweight" rating and a $425.00 target price for the company. Robert W. Baird decreased 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. Northcoast Research started coverage on Trane Technologies in a research report on Friday, November 22nd. They issued a "buy" rating and a $500.00 target price on the stock. The Goldman Sachs Group increased their price target on Trane Technologies from $364.00 to $407.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. Finally, Hsbc Global Res lowered Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, Trane Technologies presently has an average rating of "Hold" and an average price target of $401.93.

Trane Technologies Stock Performance

Shares of NYSE:TT traded down $2.84 on Thursday, hitting $414.64. The company had a trading volume of 481,642 shares, compared to its average volume of 1,114,067. Trane Technologies plc has a 1-year low of $229.07 and a 1-year high of $422.00. The stock has a market cap of $93.30 billion, a price-to-earnings ratio of 38.27, a P/E/G ratio of 2.50 and a beta of 1.03. The stock has a 50 day moving average price of $399.72 and a 200 day moving average price of $361.12. 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 (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts' consensus estimates of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. Trane Technologies's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the firm earned $2.79 earnings per share. 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. Shareholders 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 annualized dividend and a yield of 0.81%. Trane Technologies's dividend payout ratio is presently 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.