Firetrail Investments PTY Ltd. Raises Position in Trane Technologies plc (NYSE:TT)

Firetrail Investments PTY Ltd. grew its stake in Trane Technologies plc (NYSE:TT) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,596 shares of the company’s stock after buying an additional 326 shares during the quarter. Trane Technologies makes up 3.1% of Firetrail Investments PTY Ltd.’s portfolio, making the stock its 17th biggest holding. Firetrail Investments PTY Ltd.’s holdings in Trane Technologies were worth $10,717,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. DT Investment Partners LLC bought a new stake in Trane Technologies during the third quarter valued at about $36,000. Fortitude Family Office LLC lifted its holdings in Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after purchasing an additional 43 shares in the last quarter. Triad Wealth Partners LLC bought a new position in Trane Technologies in the 2nd quarter worth approximately $39,000. Quarry LP purchased a new stake in Trane Technologies during the 2nd quarter valued at approximately $39,000. Finally, Pittenger & Anderson Inc. bought a new stake in shares of Trane Technologies during the third quarter valued at approximately $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on TT. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a report on Thursday, October 31st. Morgan Stanley assumed coverage on Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price on the stock. Stephens restated an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, UBS Group initiated coverage on Trane Technologies in a research report on Wednesday. They set a “buy” rating and a $500.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average target price of $389.77.

Trane Technologies Price Performance

Shares of TT opened at $414.94 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The company has a 50 day moving average price of $384.06 and a 200-day moving average price of $351.21. Trane Technologies plc has a fifty-two week low of $221.22 and a fifty-two week high of $421.78. The stock has a market capitalization of $93.37 billion, a PE ratio of 38.49, a PEG ratio of 2.60 and a beta of 1.02.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.79 earnings per share. Equities analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm 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 is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 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.