Trane Technologies plc (NYSE:TT) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its stake in Trane Technologies plc (NYSE:TT) by 9.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,660 shares of the company’s stock after buying an additional 6,878 shares during the period. Daiwa Securities Group Inc.’s holdings in Trane Technologies were worth $29,800,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. CreativeOne Wealth LLC acquired a new position in shares of Trane Technologies in the 1st quarter valued at $379,000. EP Wealth Advisors LLC boosted its holdings in shares of Trane Technologies by 9.3% in the first quarter. EP Wealth Advisors LLC now owns 1,452 shares of the company’s stock worth $436,000 after buying an additional 124 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Trane Technologies by 172.2% in the first 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. 1832 Asset Management L.P. increased its position in shares of Trane Technologies by 21.5% in the first quarter. 1832 Asset Management L.P. now owns 5,665 shares of the company’s stock worth $1,701,000 after acquiring an additional 1,004 shares in the last quarter. Finally, SVB Wealth LLC raised its holdings in shares of Trane Technologies by 22.3% during the first quarter. SVB Wealth LLC now owns 4,091 shares of the company’s stock valued at $1,228,000 after acquiring an additional 745 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Up 0.5 %

Trane Technologies stock opened at $417.49 on Friday. Trane Technologies plc has a one year low of $221.22 and a one year high of $421.78. The company’s fifty day moving average price is $394.03 and its two-hundred day moving average price is $356.29. The company has a market capitalization of $93.94 billion, a price-to-earnings ratio of 38.73, a PEG ratio of 2.63 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data 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. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate 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 period last year, the business earned $2.79 EPS. On average, analysts forecast that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s payout ratio is 31.17%.

Analyst Upgrades and Downgrades

TT has been the subject of a number of research analyst reports. Mizuho increased their target price on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. UBS Group began coverage on Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price target on the stock. Robert W. Baird decreased their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, HSBC cut 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $397.64.

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.