11,492 Shares in Trane Technologies plc (NYSE:TT) Bought by Quantbot Technologies LP

Quantbot Technologies LP purchased a new position in shares of Trane Technologies plc (NYSE:TT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 11,492 shares of the company’s stock, valued at approximately $4,467,000.

Several other large investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new position in shares of Trane Technologies during the 3rd quarter valued at $27,000. DT Investment Partners LLC bought a new stake in Trane Technologies during the 3rd quarter valued at $36,000. Pittenger & Anderson Inc. purchased a new stake in Trane Technologies in the 3rd quarter valued at $39,000. Fortitude Family Office LLC grew its position in 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 period. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Trane Technologies during the 2nd quarter worth approximately $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TT shares. The Goldman Sachs Group upped their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. UBS Group initiated coverage on Trane Technologies in a research note on Wednesday, November 13th. They set a “buy” rating and a $500.00 price target for the company. Morgan Stanley assumed coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective on the stock. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Northcoast Research began coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $397.64.

Trane Technologies Stock Up 1.4 %

TT opened at $419.14 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The business’s fifty day simple moving average is $395.80 and its 200 day simple moving average is $357.67. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $422.00. The stock has a market cap of $94.31 billion, a PE ratio of 38.88, a P/E/G ratio of 2.62 and a beta of 1.02.

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, beating analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. Trane Technologies’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the firm posted $2.79 EPS. As a group, research analysts expect 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. Shareholders of record on Friday, December 6th will be given a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.80%. Trane Technologies’s 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.