Temasek Holdings Private Ltd Makes New Investment in Trane Technologies plc (NYSE:TT)

Temasek Holdings Private Ltd purchased a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,434 shares of the company's stock, valued at approximately $3,279,000.

A number of other institutional investors and hedge funds have also modified their holdings of TT. International Assets Investment Management LLC increased its stake in shares of Trane Technologies by 35,914.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company's stock worth $639,514,000 after purchasing an additional 1,640,569 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company's stock worth $991,460,000 after buying an additional 671,691 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Trane Technologies by 7,363.1% in the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company's stock worth $139,067,000 after acquiring an additional 417,120 shares during the last quarter. FMR LLC boosted its stake in shares of Trane Technologies by 4.0% during the third quarter. FMR LLC now owns 10,337,672 shares of the company's stock valued at $4,018,563,000 after acquiring an additional 397,537 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in Trane Technologies by 162.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company's stock worth $147,263,000 after purchasing an additional 277,274 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Stock Down 0.1 %

NYSE:TT traded down $0.55 during mid-day trading on Friday, hitting $413.67. The company had a trading volume of 457,142 shares, compared to its average volume of 1,113,826. Trane Technologies plc has a 1 year low of $229.07 and a 1 year high of $422.00. The business has a fifty day simple moving average of $400.29 and a 200-day simple moving average of $361.49. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $93.08 billion, a price-to-earnings ratio of 38.50, a PEG ratio of 2.50 and a beta of 1.03.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.23 by $0.14. The company 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%. The business's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.79 earnings per share. Equities analysts forecast that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies's dividend payout ratio (DPR) is 31.17%.

Insider Activity at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction dated 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on TT shares. Northcoast Research assumed coverage on shares of Trane Technologies in a report on Friday, November 22nd. They issued 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. Robert W. Baird cut their price target on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. Hsbc Global Res lowered Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. Finally, HSBC cut Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 price target for the company. in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Trane Technologies has an average rating of "Hold" and a consensus target price of $401.93.

Trane Technologies 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.