Capital Performance Advisors LLP Invests $66,000 in Trane Technologies plc (NYSE:TT)

Capital Performance Advisors LLP bought a new stake in Trane Technologies plc (NYSE:TT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 169 shares of the company’s stock, valued at approximately $66,000.

Several other hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC increased its position in shares of Trane Technologies by 35,914.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after purchasing an additional 1,640,569 shares during the last quarter. Swedbank AB bought a new position in Trane Technologies during the first quarter valued at approximately $206,211,000. 1832 Asset Management L.P. raised its stake in shares of Trane Technologies by 7,363.1% during the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock worth $139,067,000 after acquiring an additional 417,120 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Trane Technologies by 41.2% in the 1st quarter. TD Asset Management Inc now owns 1,060,632 shares of the company’s stock worth $318,402,000 after acquiring an additional 309,738 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of Trane Technologies by 162.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock valued at $147,263,000 after purchasing an additional 277,274 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Up 3.7 %

Shares of Trane Technologies stock opened at $410.58 on Friday. Trane Technologies plc has a 1 year low of $220.62 and a 1 year high of $413.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The company has a 50-day moving average of $381.70 and a 200 day moving average of $348.89. The firm has a market cap of $92.39 billion, a price-to-earnings ratio of 38.09, a PEG ratio of 2.48 and a beta of 1.02.

Trane Technologies (NYSE:TT) last released its 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. The firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the business earned $2.79 earnings per share. As a group, sell-side analysts anticipate that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business 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 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio is presently 31.17%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TT shares. Robert W. Baird lowered their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Barclays increased their target price on Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. The Goldman Sachs Group boosted their price objective 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. Mizuho raised their target price on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $380.15.

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.