Vinva Investment Management Ltd Purchases 10,004 Shares of Trane Technologies plc (NYSE:TT)

Vinva Investment Management Ltd grew its position in shares of Trane Technologies plc (NYSE:TT) by 137.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,256 shares of the company’s stock after purchasing an additional 10,004 shares during the period. Vinva Investment Management Ltd’s holdings in Trane Technologies were worth $6,625,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. increased its stake in Trane Technologies by 172.2% in the first quarter. Advisors Asset Management Inc. now owns 1,791 shares of the company’s stock valued at $538,000 after acquiring an additional 1,133 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Trane Technologies by 10.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 3,501 shares of the company’s stock valued at $1,051,000 after acquiring an additional 335 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Trane Technologies by 43.2% in the 1st quarter. Tidal Investments LLC now owns 13,791 shares of the company’s stock worth $4,140,000 after purchasing an additional 4,163 shares during the period. Virtu Financial LLC lifted its holdings in Trane Technologies by 27.0% in the first quarter. Virtu Financial LLC now owns 4,327 shares of the company’s stock worth $1,299,000 after buying an additional 920 shares during the period. Finally, Atria Investments Inc boosted its position in shares of Trane Technologies by 3.6% during the first quarter. Atria Investments Inc now owns 33,914 shares of the company’s stock valued at $10,181,000 after purchasing an additional 1,179 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on TT shares. UBS Group started coverage on shares of Trane Technologies in a research report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price on the stock. Wells Fargo & Company raised their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. The Goldman Sachs Group boosted their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Mizuho lifted their price objective on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley started coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $397.64.

Trane Technologies Trading Down 0.7 %

Trane Technologies stock opened at $416.09 on Thursday. Trane Technologies plc has a one year low of $221.22 and a one year high of $422.00. The business’s fifty day moving average is $396.69 and its 200 day moving average is $358.08. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The stock has a market capitalization of $93.63 billion, a PE ratio of 38.60, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02.

Trane Technologies (NYSE:TT) last announced its quarterly 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 net margin of 12.73% and a return on equity of 34.62%. The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the firm posted $2.79 EPS. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts predict that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently announced 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. This represents a $3.36 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Trane Technologies Company 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.