Swiss National Bank Has $261.27 Million Holdings in Trane Technologies plc (NYSE:TT)

Swiss National Bank lowered its position in shares of Trane Technologies plc (NYSE:TT) by 0.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 672,103 shares of the company’s stock after selling 200 shares during the quarter. Swiss National Bank owned 0.30% of Trane Technologies worth $261,267,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TT. DT Investment Partners LLC acquired a new stake in shares of Trane Technologies during the third quarter valued at approximately $36,000. Fortitude Family Office LLC grew its position in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after purchasing an additional 43 shares in the last quarter. Triad Wealth Partners LLC purchased a new position in Trane Technologies during the second quarter valued at approximately $39,000. Quarry LP purchased a new position in Trane Technologies during the second quarter valued at approximately $39,000. Finally, Pittenger & Anderson Inc. purchased a new position in Trane Technologies during the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

TT has been the topic of a number of research analyst reports. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a research report on Thursday, October 31st. Mizuho boosted their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Stephens reissued an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a research report on Monday, August 5th. Finally, Barclays boosted their target price on shares of Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $389.77.

Trane Technologies Price Performance

NYSE TT opened at $407.49 on Friday. 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 fifty day simple moving average of $388.09 and a 200 day simple moving average of $353.05. The company has a market cap of $91.69 billion, a P/E ratio of 37.80, a P/E/G ratio of 2.58 and a beta of 1.02. Trane Technologies plc has a 1 year low of $221.22 and a 1 year high of $421.78.

Trane Technologies (NYSE:TT) last released 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. The firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.79 EPS. On average, sell-side analysts predict that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently announced 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. This represents a $3.36 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is currently 31.17%.

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.