Sumitomo Mitsui Trust Group Inc. Purchases 4,178 Shares of Trane Technologies plc (NYSE:TT)

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 0.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 567,079 shares of the company's stock after acquiring an additional 4,178 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Trane Technologies worth $220,441,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Trust Point Inc. raised its stake in Trane Technologies by 3.1% during the third quarter. Trust Point Inc. now owns 897 shares of the company's stock valued at $349,000 after purchasing an additional 27 shares in the last quarter. First Pacific Financial lifted its holdings in shares of Trane Technologies by 1.1% in the 3rd 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 grew its position in Trane Technologies by 0.5% in the third quarter. Greenleaf Trust now owns 5,852 shares of the company's stock worth $2,275,000 after acquiring an additional 29 shares in the last quarter. Lake Street Advisors Group LLC increased its stake in Trane Technologies by 1.6% during the third quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company's stock worth $737,000 after acquiring an additional 30 shares during the last quarter. Finally, PFG Private Wealth Management LLC lifted its stake 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 valued at $232,000 after purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Morgan Stanley started coverage on Trane Technologies in a report on Friday, September 6th. They set an "overweight" rating and a $425.00 price target on the stock. The Goldman Sachs Group lifted their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Robert W. Baird cut their price target on shares of Trane Technologies from $408.00 to $404.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an "underweight" rating in a research note on Monday, October 7th. Finally, UBS Group started coverage on Trane Technologies in a research note on Wednesday. They set a "buy" rating and a $500.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Trane Technologies currently has a consensus rating of "Hold" and an average target price of $389.77.

Trane Technologies Stock Up 0.9 %

Shares of Trane Technologies stock traded up $3.80 during trading on Wednesday, hitting $414.94. 1,134,918 shares of the stock traded hands, compared to its average volume of 1,118,357. Trane Technologies plc has a 52-week low of $221.22 and a 52-week high of $421.78. The stock's fifty day simple moving average is $384.06 and its 200 day simple moving average is $351.21. The firm has a market cap of $93.37 billion, a P/E ratio of 38.86, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02. 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 posted its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating analysts' consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the firm posted $2.79 EPS. The company's revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given 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 (DPR) is presently 31.17%.

Trane Technologies Company Profile

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.