Equitable Trust Co. Buys New Stake in Trane Technologies plc (NYSE:TT)

Equitable Trust Co. purchased a new stake in Trane Technologies plc (NYSE:TT) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 565 shares of the company’s stock, valued at approximately $220,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Trane Technologies by 0.9% in the first quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock valued at $5,670,032,000 after buying an additional 174,251 shares in the last quarter. JPMorgan Chase & Co. grew its position in Trane Technologies by 0.5% in the first quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock valued at $5,221,599,000 after acquiring an additional 80,536 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after purchasing an additional 1,640,569 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Trane Technologies by 1.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,438,515 shares of the company’s stock valued at $559,194,000 after purchasing an additional 18,403 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in Trane Technologies by 0.3% during the 2nd quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock valued at $357,043,000 after purchasing an additional 2,898 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TT. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Robert W. Baird reduced their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Stephens restated an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. Mizuho increased their target price on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada upped their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and an average price target of $380.15.

Trane Technologies Trading Up 3.7 %

Trane Technologies stock opened at $410.58 on Monday. Trane Technologies plc has a 1 year low of $220.62 and a 1 year high of $413.74. The firm’s 50-day moving average is $381.70 and its 200-day moving average is $349.27. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The company has a market cap of $92.39 billion, a P/E ratio of 38.09, a PEG ratio of 2.60 and a beta of 1.02.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 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 the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. Trane Technologies’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.79 earnings per share. On average, equities analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Dividend Announcement

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 $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio is presently 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.