Mirae Asset Global Investments Co. Ltd. Boosts Stake in Trane Technologies plc (NYSE:TT)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 193.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 98,028 shares of the company's stock after purchasing an additional 64,611 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Trane Technologies were worth $33,028,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Trane Technologies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock valued at $7,104,658,000 after buying an additional 152,353 shares during the period. Geode Capital Management LLC boosted its position in Trane Technologies by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock valued at $1,760,549,000 after buying an additional 136,349 shares during the period. Ameriprise Financial Inc. boosted its position in Trane Technologies by 4.1% in the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock valued at $1,234,908,000 after buying an additional 130,867 shares during the period. Norges Bank purchased a new position in Trane Technologies in the 4th quarter valued at approximately $1,117,816,000. Finally, Northern Trust Corp boosted its position in Trane Technologies by 20.1% in the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock valued at $948,316,000 after buying an additional 429,953 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $432.04 on Friday. The company's fifty day moving average price is $410.28 and its 200 day moving average price is $377.77. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $437.41. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. The firm has a market capitalization of $96.35 billion, a P/E ratio of 35.94, a P/E/G ratio of 2.84 and a beta of 1.16.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. Trane Technologies's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the business earned $1.94 EPS. As a group, sell-side analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.87%. Trane Technologies's dividend payout ratio is presently 31.28%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective for the company in a research report on Thursday, May 1st. Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 1st. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. Hsbc Global Res raised shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Finally, HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $405.00 to $415.00 in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Trane Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $427.47.

Trane Technologies 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.

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