Trane Technologies plc (NYSE:TT) Shares Bought by Diversified LLC

Diversified LLC boosted its holdings in shares of Trane Technologies plc (NYSE:TT) by 15.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,253 shares of the company’s stock after buying an additional 171 shares during the period. Diversified LLC’s holdings in Trane Technologies were worth $487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new position in Trane Technologies during the 3rd quarter valued at about $27,000. DT Investment Partners LLC acquired a new position in Trane Technologies during the 3rd quarter valued at about $36,000. Pittenger & Anderson Inc. purchased a new stake in Trane Technologies during the 3rd quarter valued at about $39,000. Fortitude Family Office LLC grew its stake in Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after purchasing an additional 43 shares during the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in Trane Technologies during the 2nd quarter valued at about $39,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the company. Northcoast Research assumed coverage on Trane Technologies in a research note on Friday. They set a “buy” rating and a $500.00 price target on the stock. The Goldman Sachs Group boosted their price target on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Royal Bank of Canada boosted their price target on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Morgan Stanley assumed coverage on Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. Finally, Robert W. Baird dropped their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $397.64.

Trane Technologies Stock Performance

Shares of TT stock opened at $417.49 on Monday. The company has a market capitalization of $93.94 billion, a P/E ratio of 38.73, a P/E/G ratio of 2.64 and a beta of 1.02. The business’s 50 day moving average is $394.03 and its two-hundred day moving average 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 plc has a 12-month low of $221.22 and a 12-month high of $421.78.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Trane Technologies’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.79 earnings per share. Analysts expect that Trane Technologies plc will post 11.14 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.80%. Trane Technologies’s dividend 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.