Pathstone Holdings LLC Acquires 3,766 Shares of Trane Technologies plc (NYSE:TT)

Pathstone Holdings LLC increased its holdings in shares of Trane Technologies plc (NYSE:TT) by 9.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,808 shares of the company’s stock after purchasing an additional 3,766 shares during the quarter. Pathstone Holdings LLC’s holdings in Trane Technologies were worth $16,252,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of TT. Albar Capital Ltd acquired a new position in Trane Technologies during the 2nd quarter worth approximately $14,556,000. GDS Wealth Management boosted its holdings in Trane Technologies by 4.3% during the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after purchasing an additional 2,124 shares during the last quarter. King Wealth Management Group acquired a new stake in Trane Technologies in the 3rd quarter valued at $1,879,000. Gradient Investments LLC lifted its position in Trane Technologies by 7,988.0% during the 2nd quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock worth $665,000 after buying an additional 1,997 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Trane Technologies by 29.2% during the 1st quarter. Bessemer Group Inc. now owns 53,255 shares of the company’s stock worth $15,988,000 after buying an additional 12,045 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TT shares. Mizuho upped their target price on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Stephens reaffirmed an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. The Goldman Sachs Group lifted their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, UBS Group initiated coverage on Trane Technologies in a research note on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and a consensus target price of $389.77.

Trane Technologies Stock Up 0.9 %

NYSE TT opened at $413.05 on Wednesday. The company has a market cap of $92.94 billion, a price-to-earnings ratio of 38.32, a PEG ratio of 2.58 and a beta of 1.02. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $390.71 and a 200-day moving average of $354.63. Trane Technologies plc has a 1-year low of $221.22 and a 1-year high of $421.78.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating 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 company had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the previous year, the company earned $2.79 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, equities research analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued 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 0.81%. Trane Technologies’s dividend payout ratio (DPR) is currently 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.