Northeast Financial Group Inc. Acquires Shares of 603 Trane Technologies plc (NYSE:TT)

Northeast Financial Group Inc. acquired a new stake in shares of Trane Technologies plc (NYSE:TT) in the 3rd quarter, HoldingsChannel reports. The firm acquired 603 shares of the company’s stock, valued at approximately $234,000.

Several other institutional investors also recently modified their holdings of TT. International Assets Investment Management LLC increased its holdings in shares of Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after buying an additional 1,640,569 shares in the last quarter. Swedbank AB acquired a new stake in Trane Technologies in the first quarter valued at $206,211,000. 1832 Asset Management L.P. boosted its position in Trane Technologies by 7,363.1% during the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock valued at $139,067,000 after acquiring an additional 417,120 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Trane Technologies by 162.7% during the second quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock valued at $147,263,000 after acquiring an additional 277,274 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Trane Technologies by 1,023.0% during the second quarter. Assenagon Asset Management S.A. now owns 235,858 shares of the company’s stock valued at $77,581,000 after acquiring an additional 214,855 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Trading Down 0.6 %

TT opened at $407.60 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies plc has a fifty-two week low of $221.22 and a fifty-two week high of $421.78. The firm has a market capitalization of $91.72 billion, a PE ratio of 37.81, a P/E/G ratio of 2.63 and a beta of 1.02. The company’s 50-day moving average is $388.09 and its 200 day moving average is $352.80.

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

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.82%. Trane Technologies’s payout ratio is currently 31.17%.

Analysts Set New Price Targets

A number of analysts have commented on TT shares. Royal Bank of Canada upped their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. Mizuho upped their price target 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. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a research report on Thursday, October 31st. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Barclays increased their price objective on shares of 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 given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and a consensus price target 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.