DT Investment Partners LLC Takes Position in Trane Technologies plc (NYSE:TT)

DT Investment Partners LLC acquired a new position in Trane Technologies plc (NYSE:TT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 92 shares of the company’s stock, valued at approximately $36,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its position in Trane Technologies by 76.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 417,193 shares of the company’s stock worth $162,175,000 after buying an additional 181,335 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Trane Technologies by 35,914.4% in the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after acquiring an additional 1,640,569 shares during the period. Greenleaf Trust raised its holdings in shares of Trane Technologies by 0.5% during the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock valued at $2,275,000 after purchasing an additional 29 shares during the last quarter. Commerzbank Aktiengesellschaft FI bought a new position in Trane Technologies during the third quarter valued at approximately $335,000. Finally, Meadow Creek Wealth Advisors LLC purchased a new stake in Trane Technologies in the third quarter worth approximately $275,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Price Performance

NYSE TT opened at $392.64 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. Trane Technologies plc has a 12 month low of $184.24 and a 12 month high of $406.96. The stock has a market cap of $88.61 billion, a price-to-earnings ratio of 38.84, a PEG ratio of 2.70 and a beta of 1.01. The company’s 50 day moving average is $373.68 and its two-hundred day moving average is $341.85.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.08 by $0.22. The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company’s revenue was up 12.8% on a year-over-year basis. During the same period last year, the firm earned $2.68 EPS. As a group, research analysts anticipate that Trane Technologies plc will post 10.89 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is 33.23%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TT shares. Stephens reiterated an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. Barclays upped their price objective on Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company raised their target price on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Robert W. Baird upped their price target on shares of Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada increased their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $373.58.

Insider Buying and Selling

In related news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

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.