ING Groep NV Buys 107,323 Shares of Trane Technologies plc (NYSE:TT)

ING Groep NV grew its stake in Trane Technologies plc (NYSE:TT) by 72.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 255,681 shares of the company’s stock after buying an additional 107,323 shares during the quarter. Trane Technologies makes up 0.6% of ING Groep NV’s portfolio, making the stock its 27th biggest holding. ING Groep NV’s holdings in Trane Technologies were worth $99,391,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. DT Investment Partners LLC bought a new position in shares of Trane Technologies during the 3rd quarter valued at approximately $36,000. Fortitude Family Office LLC raised its position in shares of Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after buying an additional 43 shares in the last quarter. Triad Wealth Partners LLC bought a new position in shares of Trane Technologies in the 2nd quarter valued at about $39,000. Quarry LP purchased a new position in Trane Technologies in the second quarter worth about $39,000. Finally, Pittenger & Anderson Inc. purchased a new stake in Trane Technologies during the third quarter valued at approximately $39,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.6 %

Shares of TT stock traded down $2.59 on Thursday, hitting $412.41. The stock had a trading volume of 205,507 shares, compared to its average volume of 1,114,169. Trane Technologies plc has a one year low of $221.22 and a one year high of $421.78. The business has a 50 day moving average price of $385.43 and a 200 day moving average price of $351.65. The company has a market cap of $92.80 billion, a PE ratio of 38.49, a P/E/G ratio of 2.60 and a beta of 1.02. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. Trane Technologies’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.79 earnings per share. Research analysts anticipate that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

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 $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.81%. Trane Technologies’s dividend payout ratio is presently 31.17%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TT shares. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. UBS Group assumed coverage on shares of Trane Technologies in a research note on Wednesday. They set a “buy” rating and a $500.00 price target for the company. Morgan Stanley assumed coverage on shares of Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. Robert W. Baird cut their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group raised their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $389.77.

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.