Graypoint LLC Raises Stock Position in Trane Technologies plc (NYSE:TT)

Graypoint LLC boosted its position in shares of Trane Technologies plc (NYSE:TT) by 5.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,211 shares of the company’s stock after acquiring an additional 225 shares during the period. Graypoint LLC’s holdings in Trane Technologies were worth $1,637,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. DT Investment Partners LLC purchased a new position in Trane Technologies in the 3rd quarter worth approximately $36,000. Fortitude Family Office LLC grew its stake in Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after buying an additional 43 shares in the last quarter. Triad Wealth Partners LLC purchased a new position in Trane Technologies in the 2nd quarter worth approximately $39,000. Quarry LP purchased a new position in Trane Technologies in the 2nd quarter worth approximately $39,000. Finally, Pittenger & Anderson Inc. purchased a new position in Trane Technologies in the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 1.0 %

NYSE:TT opened at $395.92 on Friday. The company has a fifty day moving average of $379.90 and a 200 day moving average of $347.73. Trane Technologies plc has a 52 week low of $219.68 and a 52 week high of $406.96. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $89.09 billion, a P/E ratio of 36.73, a P/E/G ratio of 2.39 and a beta of 1.02.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS 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 business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the business earned $2.79 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, research analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 annualized dividend and a yield of 0.85%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TT shares. Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Robert W. Baird lowered their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a report on Thursday, October 31st. Stephens restated an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. Finally, Mizuho boosted their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $380.15.

About Trane Technologies

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.