Freemont Management S.A. Takes Position in Trane Technologies plc (NYSE:TT)

Freemont Management S.A. purchased a new stake in Trane Technologies plc (NYSE:TT) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 4,500 shares of the company’s stock, valued at approximately $1,749,000.

Other large investors have also made changes to their positions in the company. Plato Investment Management Ltd purchased a new stake in Trane Technologies during the third quarter worth approximately $4,594,000. Firetrail Investments PTY Ltd. boosted its stake in shares of Trane Technologies by 1.2% in the third quarter. Firetrail Investments PTY Ltd. now owns 27,596 shares of the company’s stock valued at $10,717,000 after purchasing an additional 326 shares during the period. Pinnacle Financial Partners Inc grew its holdings in Trane Technologies by 11.5% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 4,709 shares of the company’s stock valued at $1,831,000 after purchasing an additional 485 shares in the last quarter. Community Bank & Trust Waco Texas lifted its holdings in Trane Technologies by 10.9% in the 3rd quarter. Community Bank & Trust Waco Texas now owns 1,775 shares of the company’s stock worth $690,000 after buying an additional 175 shares in the last quarter. Finally, Haverford Trust Co boosted its position in Trane Technologies by 1.3% in the 3rd quarter. Haverford Trust Co now owns 2,647 shares of the company’s stock valued at $1,029,000 after buying an additional 34 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TT. Morgan Stanley started coverage on Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective for the company. Robert W. Baird cut their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Mizuho upped their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company lifted their price target on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada upped their price objective 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. One equities research analyst has rated the stock with a sell rating, eight have assigned 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 a consensus price target of $389.77.

Trane Technologies Stock Up 0.9 %

Shares of TT opened at $414.94 on Thursday. 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 business’s 50 day simple moving average is $384.06 and its 200-day simple moving average is $351.21. Trane Technologies plc has a one year low of $221.22 and a one year high of $421.78. The company has a market capitalization of $93.37 billion, a P/E ratio of 38.49, a PEG ratio of 2.60 and a beta of 1.02.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the company earned $2.79 EPS. As a group, sell-side analysts predict that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s payout ratio is 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.