Fosse Capital Partners LLP Has $64.65 Million Stake in Trane Technologies plc (NYSE:TT)

Fosse Capital Partners LLP trimmed its stake in shares of Trane Technologies plc (NYSE:TT) by 40.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 166,317 shares of the company’s stock after selling 111,936 shares during the quarter. Trane Technologies accounts for approximately 26.6% of Fosse Capital Partners LLP’s portfolio, making the stock its 3rd largest position. Fosse Capital Partners LLP’s holdings in Trane Technologies were worth $64,652,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Albar Capital Ltd bought a new position in shares of Trane Technologies during the second quarter valued at about $14,556,000. GDS Wealth Management grew its position in shares of Trane Technologies by 4.3% in the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after buying an additional 2,124 shares during the last quarter. King Wealth Management Group bought a new stake in shares of Trane Technologies in the 3rd quarter worth approximately $1,879,000. Gradient Investments LLC increased its stake in shares of Trane Technologies by 7,988.0% during the second quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock valued at $665,000 after buying an additional 1,997 shares during the period. Finally, QRG Capital Management Inc. raised its holdings in shares of Trane Technologies by 4.1% during the second 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. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TT shares. Royal Bank of Canada raised their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Northcoast Research began coverage on Trane Technologies in a research report on Friday. They set a “buy” rating and a $500.00 price objective on the stock. Barclays increased their target price on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird reduced 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 investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and an average price target of $397.64.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $417.42 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 52 week low of $221.22 and a 52 week high of $421.78. The stock’s 50-day simple moving average is $394.03 and its 200-day simple moving average is $356.08. The company has a market capitalization of $93.93 billion, a price-to-earnings ratio of 38.72, a PEG ratio of 2.63 and a beta of 1.02.

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 net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the firm posted $2.79 EPS. The company’s revenue was up 10.0% on a year-over-year basis. As a group, analysts expect that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.80%. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

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.