GDS Wealth Management Increases Stock Position in Trane Technologies plc (NYSE:TT)

GDS Wealth Management lifted its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,767 shares of the company's stock after acquiring an additional 2,124 shares during the quarter. Trane Technologies makes up approximately 2.0% of GDS Wealth Management's holdings, making the stock its 13th biggest holding. GDS Wealth Management's holdings in Trane Technologies were worth $20,123,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC grew its holdings in 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 acquiring an additional 1,640,569 shares in the last quarter. Swedbank AB bought a new position in shares of Trane Technologies during the first quarter valued at approximately $206,211,000. 1832 Asset Management L.P. increased its holdings in Trane Technologies by 7,363.1% during the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company's stock valued at $139,067,000 after buying an additional 417,120 shares during the period. TD Asset Management Inc raised its stake in Trane Technologies by 41.2% in the first quarter. TD Asset Management Inc now owns 1,060,632 shares of the company's stock worth $318,402,000 after buying an additional 309,738 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in Trane Technologies by 162.7% during the second quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company's stock worth $147,263,000 after buying an additional 277,274 shares during the period. Institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on TT. HSBC lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 price target for the company. in a research report on Thursday, October 31st. 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. Wells Fargo & Company upped their price target on Trane Technologies from $320.00 to $360.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. Barclays boosted their target price on Trane Technologies from $425.00 to $440.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Finally, Robert W. Baird decreased their price target on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $380.15.

Trane Technologies Stock Performance

NYSE TT traded up $3.90 during trading hours on Monday, reaching $414.48. The stock had a trading volume of 634,117 shares, compared to its average volume of 1,112,127. Trane Technologies plc has a 52-week low of $221.22 and a 52-week high of $416.86. 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 stock has a market cap of $93.27 billion, a P/E ratio of 38.09, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02. The stock has a fifty day moving average of $381.70 and a 200 day moving average of $349.64.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data 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. The firm 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.79 earnings per share. Sell-side analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.81%. Trane Technologies's dividend payout ratio (DPR) is presently 31.17%.

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.