Trane Technologies plc (NYSE:TT) Shares Purchased by World Investment Advisors LLC

World Investment Advisors LLC raised its position in Trane Technologies plc (NYSE:TT - Free Report) by 5,253.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,581 shares of the company's stock after purchasing an additional 33,935 shares during the quarter. World Investment Advisors LLC's holdings in Trane Technologies were worth $13,443,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. ORG Partners LLC purchased a new position in shares of Trane Technologies during the 2nd quarter worth approximately $209,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Trane Technologies by 6.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,515 shares of the company's stock valued at $3,459,000 after purchasing an additional 595 shares in the last quarter. Swedbank AB lifted its position in shares of Trane Technologies by 5.3% during the 2nd quarter. Swedbank AB now owns 723,394 shares of the company's stock worth $237,946,000 after purchasing an additional 36,482 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Trane Technologies by 1,023.0% during the second quarter. Assenagon Asset Management S.A. now owns 235,858 shares of the company's stock worth $77,581,000 after purchasing an additional 214,855 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new position in Trane Technologies in the second quarter valued at $39,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company upped their price target 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. Northcoast Research started coverage on Trane Technologies in a report on Friday, November 22nd. They issued a "buy" rating and a $500.00 target price for the company. Citigroup boosted their target price on shares of Trane Technologies from $457.00 to $478.00 and gave the stock a "buy" rating in a research report on Monday. The Goldman Sachs Group increased their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. Finally, Barclays boosted their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $409.93.

Trane Technologies Stock Down 0.1 %

Shares of TT stock traded down $0.54 during trading hours on Thursday, reaching $399.59. The company had a trading volume of 995,053 shares, compared to its average volume of 1,117,756. The company has a market capitalization of $89.92 billion, a P/E ratio of 37.12, a price-to-earnings-growth ratio of 2.50 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies plc has a twelve month low of $233.76 and a twelve month high of $422.00. The stock's fifty day simple moving average is $401.58 and its 200 day simple moving average is $363.61.

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, 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 during the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the business earned $2.79 EPS. The business's revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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

Insiders Place Their Bets

In related news, SVP Mairead Magner sold 4,329 shares of the company'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 sale, the senior vice president now directly owns 12,893 shares of the company's stock, valued at approximately $5,363,488. This represents a 25.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.38% of the stock is owned by company 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.