State Street Corp Purchases 77,830 Shares of Trane Technologies plc (NYSE:TT)

State Street Corp boosted its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,769,161 shares of the company's stock after buying an additional 77,830 shares during the period. State Street Corp owned about 4.34% of Trane Technologies worth $3,797,565,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Trust Point Inc. lifted its holdings in Trane Technologies by 3.1% during the 3rd quarter. Trust Point Inc. now owns 897 shares of the company's stock valued at $349,000 after purchasing an additional 27 shares during the last quarter. Cobblestone Capital Advisors LLC NY raised its stake in shares of Trane Technologies by 1.8% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company's stock worth $579,000 after acquiring an additional 27 shares during the last quarter. First Pacific Financial lifted its position in shares of Trane Technologies by 1.1% during the third quarter. First Pacific Financial now owns 2,674 shares of the company's stock worth $1,039,000 after purchasing an additional 28 shares in the last quarter. Wescott Financial Advisory Group LLC grew its stake in shares of Trane Technologies by 1.7% during the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company's stock valued at $670,000 after purchasing an additional 28 shares during the last quarter. Finally, Greenleaf Trust increased its holdings in shares of Trane Technologies by 0.5% in the third quarter. Greenleaf Trust now owns 5,852 shares of the company's stock valued at $2,275,000 after purchasing an additional 29 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

TT has been the topic of several research reports. Mizuho upped their price objective on Trane Technologies from $325.00 to $400.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Wells Fargo & Company raised their price target on Trane Technologies from $320.00 to $360.00 and gave the company an "underweight" rating in a report on Monday, October 7th. Morgan Stanley initiated coverage on Trane Technologies in a report on Friday, September 6th. They set an "overweight" rating and a $425.00 price objective for the company. The Goldman Sachs Group raised their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Finally, Northcoast Research initiated coverage on shares of Trane Technologies in a report on Friday, November 22nd. They issued a "buy" rating and a $500.00 price objective on the stock. One investment 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 data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $401.93.

Trane Technologies Stock Performance

Shares of NYSE TT traded down $2.12 during midday trading on Friday, hitting $412.10. 952,321 shares of the company's stock were exchanged, compared to its average volume of 1,116,050. Trane Technologies plc has a 12 month low of $229.07 and a 12 month high of $422.00. The company's 50 day moving average price is $400.29 and its 200 day moving average price is $361.49. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $92.73 billion, a PE ratio of 38.24, a price-to-earnings-growth ratio of 2.50 and a beta of 1.03.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly 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 analyst estimates of $5.32 billion. During the same quarter in the prior year, the business earned $2.79 EPS. Trane Technologies's quarterly revenue was up 10.0% on a year-over-year basis. As a group, analysts predict that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.82%. Trane Technologies's payout ratio is currently 31.17%.

Insider Activity at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the business's 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 directly owns 12,893 shares in the company, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.38% of the stock is currently owned by corporate 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.