Palmer Knight Co Grows Holdings in Trane Technologies plc (NYSE:TT)

Palmer Knight Co boosted its holdings in shares of Trane Technologies plc (NYSE:TT) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,745 shares of the company’s stock after acquiring an additional 73 shares during the period. Trane Technologies accounts for about 2.5% of Palmer Knight Co’s investment portfolio, making the stock its 27th largest holding. Palmer Knight Co’s holdings in Trane Technologies were worth $5,732,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Empowered Funds LLC boosted its position in shares of Trane Technologies by 138.0% in the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock worth $2,001,000 after purchasing an additional 3,866 shares in the last quarter. Sei Investments Co. raised its position in shares of Trane Technologies by 379.2% in the 1st quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock worth $91,909,000 after purchasing an additional 242,271 shares during the last quarter. Albar Capital Ltd bought a new position in Trane Technologies in the 2nd quarter worth about $14,556,000. M&G Plc purchased a new stake in Trane Technologies during the 1st quarter valued at about $8,939,000. Finally, Gradient Investments LLC raised 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 last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $395.92 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. The stock has a market capitalization of $89.09 billion, a PE ratio of 36.73, a price-to-earnings-growth ratio of 2.39 and a beta of 1.02. The firm’s 50 day moving average price is $379.90 and its 200-day moving average price is $347.73. Trane Technologies plc has a twelve month low of $219.68 and a twelve month high of $406.96.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $5.32 billion. During the same period last year, the firm earned $2.79 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. Equities research analysts expect that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Announces Dividend

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 issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio is presently 31.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TT shares. Wells Fargo & Company raised 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. Robert W. Baird reduced their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Morgan Stanley assumed coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Barclays boosted 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and an average price target of $380.15.

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.