Trane Technologies plc (NYSE:TT) Shares Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lifted its holdings in Trane Technologies plc (NYSE:TT) by 5.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,362 shares of the company’s stock after acquiring an additional 65 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Trane Technologies were worth $529,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. International Assets Investment Management LLC grew its position in 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 worth $639,514,000 after purchasing an additional 1,640,569 shares during the period. Swedbank AB acquired a new stake in Trane Technologies during the first quarter worth about $206,211,000. 1832 Asset Management L.P. raised its position in 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 valued at $139,067,000 after acquiring an additional 417,120 shares in the last quarter. TD Asset Management Inc lifted its holdings in Trane Technologies by 41.2% in the first quarter. TD Asset Management Inc now owns 1,060,632 shares of the company’s stock valued at $318,402,000 after acquiring an additional 309,738 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in Trane Technologies by 162.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock worth $147,263,000 after purchasing an additional 277,274 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Mizuho lifted their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird decreased their price objective on shares of 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 Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Royal Bank of Canada lifted their price target on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Finally, HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus price target of $380.15.

Trane Technologies Stock Up 3.7 %

Shares of TT opened at $410.58 on Monday. The stock has a 50 day moving average price of $381.70 and a 200 day moving average price of $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 stock has a market capitalization of $92.39 billion, a price-to-earnings ratio of 38.09, a PEG ratio of 2.60 and a beta of 1.02. Trane Technologies plc has a one year low of $220.62 and a one year high of $413.74.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period last year, the firm posted $2.79 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities research analysts forecast 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.82%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

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.