Loomis Sayles & Co. L P Boosts Stake in Trane Technologies plc (NYSE:TT)

Loomis Sayles & Co. L P increased its stake in Trane Technologies plc (NYSE:TT) by 1.8% in the 3rd quarter, Holdings Channel reports. The fund owned 364,780 shares of the company’s stock after buying an additional 6,352 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Trane Technologies were worth $141,801,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Trust Point Inc. lifted its holdings in shares of Trane Technologies by 3.1% in the 3rd quarter. Trust Point Inc. now owns 897 shares of the company’s stock worth $349,000 after acquiring an additional 27 shares during the last quarter. First Pacific Financial lifted its stake in Trane Technologies by 1.1% in the third quarter. First Pacific Financial now owns 2,674 shares of the company’s stock worth $1,039,000 after purchasing an additional 28 shares during the last quarter. Wescott Financial Advisory Group LLC boosted its position in Trane Technologies by 1.7% during the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock valued at $670,000 after buying an additional 28 shares during the period. Greenleaf Trust grew its stake in shares of Trane Technologies by 0.5% during the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock valued at $2,275,000 after buying an additional 29 shares during the last quarter. Finally, Lake Street Advisors Group LLC increased its holdings in shares of Trane Technologies by 1.6% in the third quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company’s stock worth $737,000 after buying an additional 30 shares during the period. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $417.49 on Monday. Trane Technologies plc has a 12 month low of $221.22 and a 12 month high of $421.78. The stock has a market cap of $93.94 billion, a PE ratio of 38.73, a price-to-earnings-growth ratio of 2.64 and a beta of 1.02. The company’s fifty day moving average price is $394.03 and its 200-day moving average price is $356.49. 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 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 return on equity of 34.62% and a net margin of 12.73%. The business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the previous year, the business earned $2.79 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities analysts expect that Trane Technologies plc will post 11.14 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced 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. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s payout ratio is 31.17%.

Wall Street Analysts Forecast Growth

TT has been the subject of several analyst reports. UBS Group began coverage on Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price for the company. Robert W. Baird cut their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a report on Thursday, October 31st. Wells Fargo & Company increased their price objective on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Finally, The Goldman Sachs Group boosted their target price on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and an average price target of $397.64.

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.