Temasek Holdings Private Ltd Increases Holdings in Trane Technologies plc (NYSE:TT)

Temasek Holdings Private Ltd grew its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 223.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 27,297 shares of the company's stock after purchasing an additional 18,863 shares during the period. Temasek Holdings Private Ltd's holdings in Trane Technologies were worth $10,082,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Secured Retirement Advisors LLC increased its stake in Trane Technologies by 0.6% during the 4th quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company's stock valued at $1,709,000 after purchasing an additional 28 shares in the last quarter. Catalina Capital Group LLC grew its holdings in shares of Trane Technologies by 3.2% during the fourth quarter. Catalina Capital Group LLC now owns 924 shares of the company's stock valued at $341,000 after buying an additional 29 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Trane Technologies by 0.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company's stock valued at $2,046,000 after acquiring an additional 29 shares in the last quarter. Kanawha Capital Management LLC raised its holdings in Trane Technologies by 0.6% in the 4th quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company's stock worth $1,740,000 after acquiring an additional 29 shares during the last quarter. Finally, Kestra Private Wealth Services LLC lifted its position in Trane Technologies by 0.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 9,173 shares of the company's stock valued at $3,388,000 after acquiring an additional 30 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TT has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and increased their price objective for the company from $405.00 to $415.00 in a research report on Friday, April 25th. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Melius cut shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price on the stock. in a research note on Tuesday, January 28th. Finally, Robert W. Baird raised their price target on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $427.47.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider now owns 3,593 shares of the company's stock, valued at $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.38% of the company's stock.

Trane Technologies Stock Performance

NYSE TT traded up $0.71 during trading hours on Friday, hitting $424.97. 275,426 shares of the company's stock traded hands, compared to its average volume of 1,346,038. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $433.60. The firm has a market capitalization of $94.78 billion, a P/E ratio of 37.77, a P/E/G ratio of 2.50 and a beta of 1.14. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The business's fifty day moving average price is $364.69 and its two-hundred day moving average price is $374.90.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The company's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.94 EPS. Equities research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's dividend payout ratio is presently 31.28%.

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.