Glenmede Trust Co. NA Acquires 407 Shares of Trane Technologies plc (NYSE:TT)

Glenmede Trust Co. NA raised its holdings in shares of Trane Technologies plc (NYSE:TT) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,117 shares of the company’s stock after purchasing an additional 407 shares during the period. Glenmede Trust Co. NA owned 0.05% of Trane Technologies worth $47,082,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TT. Albar Capital Ltd bought a new stake in Trane Technologies in the second quarter valued at $14,556,000. GDS Wealth Management increased its position in shares of Trane Technologies by 4.3% during the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after buying an additional 2,124 shares during the period. King Wealth Management Group bought a new position in Trane Technologies in the third quarter worth about $1,879,000. Gradient Investments LLC lifted its holdings in Trane Technologies by 7,988.0% in the second quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock worth $665,000 after buying an additional 1,997 shares during the period. Finally, QRG Capital Management Inc. boosted its position in Trane Technologies by 4.1% during the 2nd quarter. QRG Capital Management Inc. now owns 39,475 shares of the company’s stock valued at $12,985,000 after acquiring an additional 1,554 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

NYSE TT opened at $419.14 on Wednesday. The stock has a 50-day moving average of $395.80 and a 200 day moving average of $357.67. Trane Technologies plc has a one year low of $221.22 and a one year high of $422.00. The company has a market capitalization of $94.31 billion, a price-to-earnings ratio of 38.88, a PEG ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22.

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 analysts’ consensus estimates of $3.23 by $0.14. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.79 EPS. On average, sell-side analysts forecast that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Announces Dividend

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 given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is currently 31.17%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TT. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research note on Thursday, October 31st. The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Wells Fargo & Company increased their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Robert W. Baird dropped their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, UBS Group assumed coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus 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.