Edgestream Partners L.P. Invests $519,000 in Trane Technologies plc (NYSE:TT)

Edgestream Partners L.P. bought a new stake in Trane Technologies plc (NYSE:TT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,335 shares of the company’s stock, valued at approximately $519,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TT. MidAtlantic Capital Management Inc. acquired a new position in shares of Trane Technologies in the 3rd quarter worth approximately $27,000. DT Investment Partners LLC acquired a new position in Trane Technologies during the third quarter worth $36,000. Pittenger & Anderson Inc. bought a new position in shares of Trane Technologies during the third quarter valued at $39,000. Triad Wealth Partners LLC acquired a new stake in shares of Trane Technologies in the 2nd quarter valued at $39,000. Finally, Quarry LP bought a new stake in shares of Trane Technologies in the 2nd quarter worth about $39,000. 82.97% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the sale, the senior vice president now directly owns 12,893 shares in the company, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TT. Wells Fargo & Company boosted their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research report on Thursday, October 31st. UBS Group initiated coverage on Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price on the stock. The Goldman Sachs Group upped their price target 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. Finally, Mizuho raised 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. 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’s stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and a consensus target price of $401.93.

Trane Technologies Price Performance

Shares of TT stock opened at $415.08 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 12-month low of $229.07 and a 12-month high of $422.00. The firm has a fifty day moving average of $400.29 and a 200-day moving average of $361.49. The firm has a market capitalization of $93.40 billion, a price-to-earnings ratio of 38.50, a price-to-earnings-growth ratio of 2.50 and a beta of 1.03.

Trane Technologies (NYSE:TT) last posted its earnings results 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. The firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.79 earnings per share. On average, equities research analysts forecast that Trane Technologies plc will post 11.14 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend 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.