Trane Technologies plc (NYSE:TT) Shares Bought by TCW Group Inc.

TCW Group Inc. lifted its stake in Trane Technologies plc (NYSE:TT - Free Report) by 24.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,918 shares of the company's stock after buying an additional 7,968 shares during the quarter. TCW Group Inc.'s holdings in Trane Technologies were worth $15,517,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Trust Point Inc. raised its position in shares of 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 buying an additional 27 shares during the last quarter. Cobblestone Capital Advisors LLC NY lifted its holdings in shares of Trane Technologies by 1.8% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company's stock valued at $579,000 after acquiring an additional 27 shares during the last quarter. First Pacific Financial grew its position in Trane Technologies by 1.1% in the third quarter. First Pacific Financial now owns 2,674 shares of the company's stock worth $1,039,000 after acquiring an additional 28 shares in the last quarter. Wescott Financial Advisory Group LLC boosted its holdings in shares of Trane Technologies by 1.7% in the 3rd quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company's stock worth $670,000 after purchasing an additional 28 shares during the period. Finally, Greenleaf Trust boosted its stake in Trane Technologies by 0.5% during the third quarter. Greenleaf Trust now owns 5,852 shares of the company's stock worth $2,275,000 after buying an additional 29 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Performance

Trane Technologies stock traded down $0.54 during midday trading on Thursday, hitting $399.59. 995,053 shares of the company were exchanged, compared to its average volume of 1,117,756. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The firm has a market capitalization of $89.92 billion, a PE ratio of 37.07, a price-to-earnings-growth ratio of 2.50 and a beta of 1.03. The business has a fifty day simple moving average of $401.58 and a two-hundred day simple moving average of $363.61. Trane Technologies plc has a fifty-two week low of $233.76 and a fifty-two week high of $422.00.

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 for the quarter, topping analysts' consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company had revenue of $5.44 billion during the quarter, compared to analysts' expectations of $5.32 billion. During the same quarter in the prior year, the firm posted $2.79 EPS. Trane Technologies's quarterly revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts forecast that Trane Technologies plc will post 11.13 earnings per share for the current 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 paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies's dividend payout ratio is presently 31.17%.

Insider Activity

In related news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the sale, the senior vice president now owns 12,893 shares of the company's stock, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Trane Technologies from $364.00 to $407.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. Wells Fargo & Company raised their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the company an "underweight" rating in a research report on Monday, October 7th. UBS Group assumed coverage on Trane Technologies in a research report on Wednesday, November 13th. They issued a "buy" rating and a $500.00 price target for the company. Mizuho increased their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Finally, Barclays increased their price target on Trane Technologies from $440.00 to $500.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $409.93.

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.