Temasek Holdings Private Ltd Makes New Investment in Trane Technologies plc (NYSE:TT)

Temasek Holdings Private Ltd bought a new position in Trane Technologies plc (NYSE:TT) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 8,434 shares of the company’s stock, valued at approximately $3,279,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TT. State Street Corp increased its position in shares of Trane Technologies by 0.8% during the 3rd quarter. State Street Corp now owns 9,769,161 shares of the company’s stock worth $3,797,565,000 after purchasing an additional 77,830 shares during the last quarter. Quantinno Capital Management LP increased its position in shares of Trane Technologies by 40.6% during the 3rd quarter. Quantinno Capital Management LP now owns 10,991 shares of the company’s stock worth $4,273,000 after purchasing an additional 3,174 shares during the last quarter. Quarry LP increased its position in shares of Trane Technologies by 1,198.3% during the 3rd quarter. Quarry LP now owns 1,545 shares of the company’s stock worth $601,000 after purchasing an additional 1,426 shares during the last quarter. Resurgent Financial Advisors LLC increased its position in shares of Trane Technologies by 2.5% during the 3rd quarter. Resurgent Financial Advisors LLC now owns 1,614 shares of the company’s stock worth $627,000 after purchasing an additional 39 shares during the last quarter. Finally, Reynders McVeigh Capital Management LLC increased its position in shares of Trane Technologies by 8.2% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 1,975 shares of the company’s stock worth $768,000 after purchasing an additional 150 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays raised their price objective on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday. Morgan Stanley began coverage on Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price for the company. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Wells Fargo & Company lifted their target price on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Finally, UBS Group assumed coverage on Trane Technologies in a research report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and a consensus price target of $401.93.

Trane Technologies Price Performance

TT stock opened at $415.08 on Friday. The business has a 50 day moving average price of $400.29 and a 200 day moving average price of $361.49. The stock has a market cap of $93.40 billion, a price-to-earnings ratio of 38.50, a PEG ratio of 2.50 and a beta of 1.03. Trane Technologies plc has a fifty-two week low of $229.07 and a fifty-two week 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.

Trane Technologies (NYSE:TT) last posted its earnings results 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 firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.79 earnings per share. Equities research analysts anticipate that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.81%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

Insiders Place Their Bets

In other news, SVP Mairead Magner sold 4,329 shares of the business’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 value of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

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.