The Manufacturers Life Insurance Company Buys 70,408 Shares of Trane Technologies plc (NYSE:TT)

The Manufacturers Life Insurance Company increased its stake in shares of Trane Technologies plc (NYSE:TT) by 16.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 487,592 shares of the company’s stock after buying an additional 70,408 shares during the quarter. The Manufacturers Life Insurance Company owned 0.22% of Trane Technologies worth $189,542,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. International Assets Investment Management LLC raised its position 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 last quarter. Swedbank AB bought a new position in shares of Trane Technologies in the first quarter valued at about $206,211,000. Massachusetts Financial Services Co. MA lifted its position in Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after buying an additional 671,691 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in Trane Technologies by 7,363.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock worth $139,067,000 after acquiring an additional 417,120 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in Trane Technologies by 162.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock valued at $147,263,000 after acquiring an additional 277,274 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research note on Thursday, October 31st. Royal Bank of Canada upped their price target on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. The Goldman Sachs Group lifted their price objective on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Robert W. Baird cut their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $397.64.

Trane Technologies Trading Up 1.4 %

TT opened at $419.14 on Wednesday. The firm’s fifty day moving average is $395.80 and its two-hundred day moving average is $357.67. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The firm has a market cap of $94.31 billion, a PE ratio of 38.88, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. Trane Technologies plc has a twelve month low of $221.22 and a twelve month high of $422.00.

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

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

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.