2,360 Shares in Trane Technologies plc (NYSE:TT) Acquired by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD bought a new stake in shares of Trane Technologies plc (NYSE:TT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,360 shares of the company’s stock, valued at approximately $917,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC grew its holdings in shares of Trane Technologies by 12.0% during the 2nd quarter. CWM LLC now owns 6,483 shares of the company’s stock valued at $2,132,000 after purchasing an additional 697 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of Trane Technologies during the second quarter valued at approximately $431,000. Fortitude Family Office LLC raised its holdings 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 purchasing an additional 43 shares in the last quarter. Csenge Advisory Group lifted its position in shares of Trane Technologies by 6.8% in the 2nd quarter. Csenge Advisory Group now owns 4,221 shares of the company’s stock worth $1,388,000 after purchasing an additional 269 shares during the period. Finally, U.S. Capital Wealth Advisors LLC raised its stake in Trane Technologies by 14.8% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 1,137 shares of the company’s stock worth $374,000 after buying an additional 147 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.5 %

Trane Technologies stock opened at $412.56 on Wednesday. The business has a 50-day simple moving average of $399.13 and a two-hundred day simple moving average of $360.72. Trane Technologies plc has a 52-week low of $226.18 and a 52-week high of $422.00. 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 company has a market cap of $92.83 billion, a P/E ratio of 38.27, a P/E/G ratio of 2.52 and a beta of 1.03.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the previous year, the firm posted $2.79 EPS. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts predict that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a dividend of $0.84 per share. The ex-dividend date 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 presently 31.17%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays lifted their price target on Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Wells Fargo & Company boosted their target price on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Mizuho increased their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley began coverage on shares of Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $397.64.

Trane Technologies 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.