IQ EQ FUND MANAGEMENT IRELAND Ltd Grows Holdings in Trane Technologies plc $TT

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in Trane Technologies plc (NYSE:TT) by 7.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,935 shares of the company’s stock after purchasing an additional 263 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Trane Technologies were worth $1,721,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Trane Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company’s stock valued at $6,555,377,000 after purchasing an additional 221,206 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Trane Technologies by 9.8% during the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock valued at $5,297,235,000 after acquiring an additional 1,408,421 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Trane Technologies by 7.2% during the 1st quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company’s stock valued at $1,208,044,000 after acquiring an additional 241,910 shares during the last quarter. Nuveen LLC acquired a new position in shares of Trane Technologies during the 1st quarter valued at about $877,468,000. Finally, Northern Trust Corp increased its stake in shares of Trane Technologies by 0.7% during the 1st quarter. Northern Trust Corp now owns 2,584,819 shares of the company’s stock valued at $870,877,000 after acquiring an additional 17,292 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Trading Down 0.2%

TT opened at $427.25 on Wednesday. The firm’s 50 day moving average is $416.32 and its 200-day moving average is $416.93. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $95.07 billion, a P/E ratio of 33.88, a P/E/G ratio of 2.66 and a beta of 1.12.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the prior year, the firm earned $3.30 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. Analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, December 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 29.82%.

Insider Activity

In related news, CEO David S. Regnery sold 22,497 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total value of $9,223,770.00. Following the transaction, the chief executive officer owned 123,713 shares in the company, valued at approximately $50,722,330. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on TT. Morgan Stanley upped their price objective on shares of Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Royal Bank Of Canada upped their price objective on shares of Trane Technologies from $463.00 to $467.00 and gave the company a “sector perform” rating in a research note on Thursday, July 31st. Northcoast Research downgraded shares of Trane Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, August 1st. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $410.00 to $415.00 and gave the company an “underweight” rating in a research note on Monday, October 6th. Finally, UBS Group increased their target price on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $464.29.

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.