Summit Trail Advisors LLC Has $1.66 Million Stock Position in Trane Technologies plc (NYSE:TT)

Summit Trail Advisors LLC increased its holdings in Trane Technologies plc (NYSE:TT) by 7.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,281 shares of the company’s stock after acquiring an additional 302 shares during the period. Summit Trail Advisors LLC’s holdings in Trane Technologies were worth $1,664,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new position in Trane Technologies during the 3rd quarter valued at $27,000. DT Investment Partners LLC purchased a new position in Trane Technologies during the third quarter worth about $36,000. Fortitude Family Office LLC grew its position in Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after purchasing an additional 43 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in Trane Technologies in the 2nd quarter valued at about $39,000. Finally, Quarry LP bought a new position in shares of Trane Technologies during the 2nd quarter worth approximately $39,000. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TT shares. Robert W. Baird decreased their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a report on Thursday, October 31st. 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 target price on the stock. UBS Group initiated coverage on Trane Technologies in a report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price objective for the company. Finally, Northcoast Research initiated coverage on shares of Trane Technologies in a research note on Friday. They issued a “buy” rating and a $500.00 target price for the company. One 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $397.64.

Trane Technologies Stock Performance

NYSE:TT opened at $417.49 on Monday. The company has a market capitalization of $93.94 billion, a price-to-earnings ratio of 38.73, a PEG ratio of 2.64 and a beta of 1.02. The business has a 50 day moving average of $394.03 and a 200 day moving average of $356.49. 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 plc has a 1-year low of $221.22 and a 1-year high of $421.78.

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

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.80%. Trane Technologies’s dividend payout ratio is currently 31.17%.

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.