UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $832.69 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Trane Technologies plc (NYSE:TT) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,142,081 shares of the company’s stock after purchasing an additional 20,151 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.95% of Trane Technologies worth $832,691,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of TT. MidAtlantic Capital Management Inc. acquired a new stake in Trane Technologies in the third quarter worth $27,000. DT Investment Partners LLC acquired a new position in shares of Trane Technologies during the third quarter valued at about $36,000. Fortitude Family Office LLC grew its holdings in shares of Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after buying an additional 43 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in shares of Trane Technologies during the second quarter valued at about $39,000. Finally, Quarry LP acquired a new position in shares of Trane Technologies during the second quarter valued at about $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

Shares of TT stock opened at $416.09 on Thursday. The firm has a market cap of $93.63 billion, a price-to-earnings ratio of 38.60, a P/E/G ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $422.00. The firm’s 50-day simple moving average is $396.69 and its two-hundred day simple moving average is $358.08.

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

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 31.17%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TT shares. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Stephens reissued an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. The Goldman Sachs Group raised their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Morgan Stanley began coverage on shares of Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. Finally, Royal Bank of Canada raised their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $397.64.

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.