Wellington Management Group LLP Has $283.16 Million Stock Position in Trane Technologies plc (NYSE:TT)

Wellington Management Group LLP raised its stake in Trane Technologies plc (NYSE:TT - Free Report) by 4.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 728,428 shares of the company's stock after buying an additional 30,038 shares during the period. Wellington Management Group LLP owned approximately 0.32% of Trane Technologies worth $283,162,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Worldquant Millennium Advisors LLC boosted its holdings in shares of Trane Technologies by 18.3% in the third quarter. Worldquant Millennium Advisors LLC now owns 315,879 shares of the company's stock worth $122,792,000 after buying an additional 48,870 shares during the period. Wahed Invest LLC boosted its stake in Trane Technologies by 12.9% in the 3rd quarter. Wahed Invest LLC now owns 5,498 shares of the company's stock worth $2,137,000 after purchasing an additional 630 shares during the period. Weiss Asset Management LP purchased a new position in Trane Technologies during the 3rd quarter worth approximately $20,059,000. Temasek Holdings Private Ltd acquired a new stake in Trane Technologies during the 3rd quarter valued at $3,279,000. Finally, State Street Corp boosted its position in shares of Trane Technologies by 0.8% in the third quarter. State Street Corp now owns 9,769,161 shares of the company's stock worth $3,797,565,000 after buying an additional 77,830 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Stock Performance

NYSE:TT traded down $2.04 during midday trading on Friday, reaching $412.18. The stock had a trading volume of 952,323 shares, compared to its average volume of 1,102,031. The stock has a market capitalization of $92.75 billion, a P/E ratio of 38.24, a PEG ratio of 2.53 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies plc has a 1-year low of $229.07 and a 1-year high of $422.00. The firm's fifty day simple moving average is $400.85 and its 200-day simple moving average is $362.24.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS 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 analyst estimates of $5.32 billion. During the same period in the previous year, the company earned $2.79 earnings per share. The company's quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts forecast that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.82%. Trane Technologies's dividend payout ratio is currently 31.17%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TT. Morgan Stanley assumed coverage on Trane Technologies in a research note on Friday, September 6th. They issued an "overweight" rating and a $425.00 price objective for the company. UBS Group initiated coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They set a "buy" rating and a $500.00 price target for the company. Robert W. Baird dropped their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a "neutral" rating on the stock in a research note on Thursday, October 31st. Hsbc Global Res downgraded shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. Finally, Northcoast Research started coverage on Trane Technologies in a report on Friday, November 22nd. They set a "buy" rating and a $500.00 price objective for the company. 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 data from MarketBeat, Trane Technologies has a consensus rating of "Hold" and an average price target of $401.93.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the firm'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 transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is owned by insiders.

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.