Zacks Investment Management Has $20.55 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Zacks Investment Management boosted its position in Trane Technologies plc (NYSE:TT - Free Report) by 7.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,854 shares of the company's stock after purchasing an additional 3,634 shares during the quarter. Zacks Investment Management's holdings in Trane Technologies were worth $20,546,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new position in shares of Trane Technologies in the third quarter worth $27,000. DT Investment Partners LLC bought a new position in Trane Technologies in the 3rd quarter valued at about $36,000. Triad Wealth Partners LLC acquired a new position in Trane Technologies during the 2nd quarter valued at about $39,000. Quarry LP bought a new stake in shares of Trane Technologies during the 2nd quarter worth about $39,000. Finally, Pittenger & Anderson Inc. acquired a new stake in shares of Trane Technologies in the 3rd quarter worth approximately $39,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TT has been the topic of several recent analyst reports. Hsbc Global Res cut Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 31st. UBS Group assumed coverage on Trane Technologies in a research note on Wednesday, November 13th. They set a "buy" rating and a $500.00 target price for the company. Mizuho boosted their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. HSBC downgraded shares of 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. Finally, Northcoast Research initiated coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They issued a "buy" rating and a $500.00 price objective on the stock. One 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $401.93.

Insider Activity

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction on 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 completion of the sale, the senior vice president now owns 12,893 shares of the company's stock, valued at $5,363,488. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Trading Down 0.5 %

Shares of NYSE:TT traded down $2.04 during mid-day trading on Friday, hitting $412.18. The stock had a trading volume of 952,323 shares, compared to its average volume of 1,102,031. The company's 50 day moving average is $400.85 and its 200-day moving average is $362.45. Trane Technologies plc has a 12-month low of $229.07 and a 12-month high of $422.00. 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 company has a market cap of $92.75 billion, a PE ratio of 38.24, a P/E/G ratio of 2.53 and a beta of 1.03.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results 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. 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 quarter in the prior year, the company earned $2.79 earnings per share. The company's revenue for the quarter was up 10.0% on a year-over-year basis. On average, sell-side analysts predict that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently announced 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 is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.82%. 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.