Pitcairn Co. Raises Stake in Trane Technologies plc (NYSE:TT)

Pitcairn Co. lifted its holdings in shares of Trane Technologies plc (NYSE:TT) by 48.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,593 shares of the company’s stock after purchasing an additional 2,806 shares during the quarter. Pitcairn Co.’s holdings in Trane Technologies were worth $3,340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Trust Point Inc. grew its holdings in shares of Trane Technologies by 3.1% during the 3rd quarter. Trust Point Inc. now owns 897 shares of the company’s stock worth $349,000 after purchasing an additional 27 shares during the period. First Pacific Financial lifted its stake in Trane Technologies by 1.1% during the 3rd quarter. First Pacific Financial now owns 2,674 shares of the company’s stock worth $1,039,000 after acquiring an additional 28 shares in the last quarter. Greenleaf Trust lifted its stake in Trane Technologies by 0.5% during the 3rd quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock worth $2,275,000 after acquiring an additional 29 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in Trane Technologies by 1.6% during the 3rd quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company’s stock worth $737,000 after acquiring an additional 30 shares in the last quarter. Finally, PFG Private Wealth Management LLC lifted its stake in Trane Technologies by 4.7% during the 2nd quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock worth $232,000 after acquiring an additional 32 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 0.5 %

Shares of TT stock opened at $417.42 on Friday. The business’s 50 day moving average is $394.03 and its two-hundred day moving average is $356.08. Trane Technologies plc has a twelve month low of $221.22 and a twelve month high of $421.78. The company has a market capitalization of $93.93 billion, a P/E ratio of 38.72, a price-to-earnings-growth ratio of 2.63 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.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.14. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the business posted $2.79 EPS. Equities analysts forecast that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared 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 is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.80%. Trane Technologies’s dividend payout ratio is currently 31.17%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TT. Stephens reissued an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. Royal Bank of Canada increased their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Wells Fargo & Company increased their target price on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. HSBC lowered 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. Finally, Mizuho increased their price target on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $397.64.

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.