Wahed Invest LLC Has $2.14 Million Stake in Trane Technologies plc (NYSE:TT)

Wahed Invest LLC lifted its position in shares of Trane Technologies plc (NYSE:TT) by 12.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,498 shares of the company’s stock after purchasing an additional 630 shares during the quarter. Wahed Invest LLC’s holdings in Trane Technologies were worth $2,137,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TT. FMR LLC grew its holdings in Trane Technologies by 4.0% during the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after buying an additional 397,537 shares in the last quarter. State Street Corp grew its stake in Trane Technologies by 0.8% in the 3rd quarter. State Street Corp now owns 9,769,161 shares of the company’s stock valued at $3,797,565,000 after purchasing an additional 77,830 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Trane Technologies by 35.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after purchasing an additional 671,691 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Trane Technologies by 0.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock valued at $832,691,000 after purchasing an additional 20,151 shares during the period. Finally, International Assets Investment Management LLC grew its stake in Trane Technologies by 35,914.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after purchasing an additional 1,640,569 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TT. Barclays upped their price objective on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley initiated coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective on the stock. Robert W. Baird dropped their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. The Goldman Sachs Group raised their price target on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Northcoast Research assumed coverage on Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and a consensus target price of $401.93.

Trane Technologies Trading Down 0.6 %

NYSE:TT opened at $415.08 on Friday. The company has a 50-day moving average price of $400.29 and a 200-day moving average price of $361.49. Trane Technologies plc has a 12 month low of $229.07 and a 12 month high of $422.00. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The stock has a market cap of $93.40 billion, a price-to-earnings ratio of 38.50, a P/E/G ratio of 2.50 and a beta of 1.03.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the business earned $2.79 EPS. Trane Technologies’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities analysts predict that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.81%. Trane Technologies’s payout ratio is currently 31.17%.

Insiders Place Their Bets

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is owned by company 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.