Trane Technologies plc (NYSE:TT) Holdings Boosted by Natixis Advisors LLC

Natixis Advisors LLC grew its holdings in Trane Technologies plc (NYSE:TT) by 4.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,475 shares of the company’s stock after purchasing an additional 5,380 shares during the period. Natixis Advisors LLC’s holdings in Trane Technologies were worth $52,663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TT. International Assets Investment Management LLC grew its stake in Trane Technologies by 35,914.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after acquiring an additional 1,640,569 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in Trane Technologies by 1.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,438,515 shares of the company’s stock valued at $559,194,000 after purchasing an additional 18,403 shares in the last quarter. Mackenzie Financial Corp lifted its position in Trane Technologies by 0.3% in the 2nd quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock worth $357,043,000 after buying an additional 2,898 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Trane Technologies by 3.1% during the 3rd quarter. Raymond James & Associates now owns 1,076,484 shares of the company’s stock valued at $418,462,000 after buying an additional 32,079 shares during the period. Finally, Swedbank AB grew its holdings in shares of Trane Technologies by 2.8% during the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after acquiring an additional 20,400 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $407.49 on Friday. Trane Technologies plc has a 12 month low of $221.22 and a 12 month high of $421.78. 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. The business’s 50 day moving average is $388.09 and its two-hundred day moving average is $353.05. 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 (NYSE:TT) last announced its 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. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the previous year, the firm posted $2.79 earnings per share. Trane Technologies’s revenue was up 10.0% compared to the same quarter last year. On average, equities analysts expect 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 $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is presently 31.17%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TT. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research report on Thursday, October 31st. Stephens reaffirmed an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Royal Bank of Canada raised their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. Finally, Robert W. Baird decreased their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $389.77.

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.