Vinva Investment Management Ltd Has $6.63 Million Holdings in Trane Technologies plc (NYSE:TT)

Vinva Investment Management Ltd raised its position in shares of Trane Technologies plc (NYSE:TT) by 137.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,256 shares of the company’s stock after acquiring an additional 10,004 shares during the period. Vinva Investment Management Ltd’s holdings in Trane Technologies were worth $6,625,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TT. Albar Capital Ltd acquired a new position in Trane Technologies in the 2nd quarter valued at $14,556,000. GDS Wealth Management grew its stake in shares of Trane Technologies by 4.3% in the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after acquiring an additional 2,124 shares in the last quarter. King Wealth Management Group acquired a new position in shares of Trane Technologies in the third quarter valued at about $1,879,000. Gradient Investments LLC increased its position in Trane Technologies by 7,988.0% during the second quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock worth $665,000 after acquiring an additional 1,997 shares during the period. Finally, QRG Capital Management Inc. raised its stake in Trane Technologies by 4.1% in the 2nd quarter. QRG Capital Management Inc. now owns 39,475 shares of the company’s stock worth $12,985,000 after purchasing an additional 1,554 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

TT opened at $416.09 on Thursday. Trane Technologies plc has a 1 year low of $221.22 and a 1 year high of $422.00. The company has a market capitalization 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 firm’s fifty day moving average price is $396.69 and its two-hundred day moving average price is $358.08. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92.

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

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.81%. Trane Technologies’s dividend payout ratio is currently 31.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TT shares. Wells Fargo & Company increased their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Royal Bank of Canada raised their price objective on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Morgan Stanley assumed coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. The Goldman Sachs Group increased their target price on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, UBS Group started coverage on Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price target for the company. 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $397.64.

Trane Technologies 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.