Trane Technologies plc (NYSE:TT) Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 930,713 shares of the company's stock after purchasing an additional 49,658 shares during the quarter. Trane Technologies makes up approximately 0.7% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings, making the stock its 15th largest holding. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.41% of Trane Technologies worth $343,760,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Trane Technologies in the 4th quarter valued at about $1,117,816,000. Raymond James Financial Inc. purchased a new stake in Trane Technologies in the 4th quarter valued at about $611,322,000. Northern Trust Corp grew its holdings 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. BNP Paribas Financial Markets purchased a new stake in Trane Technologies in the 4th quarter valued at about $137,999,000. Finally, Bank Julius Baer & Co. Ltd Zurich grew its holdings in Trane Technologies by 455.2% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company's stock valued at $167,977,000 after buying an additional 350,277 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Barclays decreased their target price on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Melius Research reiterated a "hold" rating and set a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and boosted their target price for the stock from $405.00 to $415.00 in a report on Friday, April 25th. Wells Fargo & Company boosted 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. Finally, Royal Bank of Canada boosted their price target on Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Trane Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $421.07.

Trane Technologies Trading Down 0.3%

NYSE:TT opened at $404.32 on Monday. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $422.00. The stock has a market cap of $90.17 billion, a price-to-earnings ratio of 35.94, a PEG ratio of 2.50 and a beta of 1.14. The business has a fifty day moving average of $350.05 and a 200-day moving average of $372.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

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

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 0.93%. Trane Technologies's dividend payout ratio (DPR) is 31.28%.

Insider Activity

In related news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the sale, the insider now directly owns 3,593 shares of the company's stock, valued at approximately $1,365,340. This represents a 49.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.38% of the company's stock.

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.

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