Trane Technologies plc (NYSE:TT) Shares Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC boosted its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 22.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,981 shares of the company's stock after buying an additional 5,740 shares during the quarter. Sanctuary Advisors LLC's holdings in Trane Technologies were worth $12,934,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. TCW Group Inc. lifted its stake in Trane Technologies by 24.9% in the third quarter. TCW Group Inc. now owns 39,918 shares of the company's stock worth $15,517,000 after acquiring an additional 7,968 shares during the period. TD Private Client Wealth LLC lifted its position in shares of Trane Technologies by 7.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,007 shares of the company's stock worth $391,000 after purchasing an additional 67 shares during the period. Virtue Capital Management LLC lifted its position in shares of Trane Technologies by 26.9% in the 3rd quarter. Virtue Capital Management LLC now owns 1,214 shares of the company's stock worth $472,000 after purchasing an additional 257 shares during the period. Coldstream Capital Management Inc. boosted its stake in shares of Trane Technologies by 10.0% during the third quarter. Coldstream Capital Management Inc. now owns 5,146 shares of the company's stock valued at $2,012,000 after purchasing an additional 466 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Trane Technologies by 1.4% during the third 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 during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

NYSE:TT traded down $0.30 during mid-day trading on Friday, hitting $399.36. The company's stock had a trading volume of 852,589 shares, compared to its average volume of 1,116,656. The business's fifty day moving average is $402.05 and its two-hundred day moving average is $364.28. The stock has a market cap of $89.87 billion, a price-to-earnings ratio of 37.06, a PEG ratio of 2.43 and a beta of 1.03. 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 $233.76 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) last issued its 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 firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company's revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.79 earnings per share. Analysts anticipate that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Friday, December 6th. Trane Technologies's dividend payout ratio (DPR) is presently 31.17%.

Analysts Set New Price Targets

Several analysts have issued reports on TT shares. Northcoast Research initiated coverage on Trane Technologies in a research report on Friday, November 22nd. They set a "buy" rating and a $500.00 target price on the stock. Mizuho raised their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. UBS Group started 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 boosted their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Finally, Citigroup increased their price objective on shares of Trane Technologies from $457.00 to $478.00 and gave the company a "buy" rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $409.93.

Insider Activity at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the company's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.38% of the stock is owned by company insiders.

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.