Fmr LLC Purchases 397,537 Shares of Trane Technologies plc (NYSE:TT)

Fmr LLC grew its holdings in Trane Technologies plc (NYSE:TT) by 4.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 10,337,672 shares of the company’s stock after acquiring an additional 397,537 shares during the quarter. Fmr LLC’s holdings in Trane Technologies were worth $4,018,563,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in TT. Advisors Asset Management Inc. increased its position in Trane Technologies by 172.2% in the 1st quarter. Advisors Asset Management Inc. now owns 1,791 shares of the company’s stock worth $538,000 after buying an additional 1,133 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in Trane Technologies by 10.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,501 shares of the company’s stock valued at $1,051,000 after purchasing an additional 335 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Trane Technologies by 0.3% in the 1st quarter. California State Teachers Retirement System now owns 361,624 shares of the company’s stock valued at $108,560,000 after purchasing an additional 1,211 shares during the period. Creekmur Asset Management LLC increased its holdings in shares of Trane Technologies by 1.5% during the 1st quarter. Creekmur Asset Management LLC now owns 3,020 shares of the company’s stock worth $907,000 after purchasing an additional 45 shares during the period. Finally, Tidal Investments LLC raised its position in shares of Trane Technologies by 43.2% during the first quarter. Tidal Investments LLC now owns 13,791 shares of the company’s stock valued at $4,140,000 after buying an additional 4,163 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TT shares. Northcoast Research assumed coverage on Trane Technologies in a research report on Friday. They set a “buy” rating and a $500.00 target price on the stock. The Goldman Sachs Group lifted their price objective on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Royal Bank of Canada upped their target price on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Stephens reiterated an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Finally, Mizuho increased their price objective 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus target price of $397.64.

Trane Technologies Trading Down 1.0 %

Shares of TT stock opened at $413.32 on Tuesday. The company has a market capitalization of $93.01 billion, a P/E ratio of 38.34, a P/E/G ratio of 2.64 and a beta of 1.02. Trane Technologies plc has a 12-month low of $221.22 and a 12-month high of $422.00. 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 50-day moving average price of $394.91 and a 200 day moving average price of $357.06.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. The company had revenue of $5.44 billion during 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 company’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business posted $2.79 earnings per share. Research analysts forecast that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm 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 $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio is currently 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.