Trane Technologies plc (NYSE:TT) Shares Purchased by Pitcairn Co.

Pitcairn Co. increased its position in shares of Trane Technologies plc (NYSE:TT) by 48.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,593 shares of the company’s stock after purchasing an additional 2,806 shares during the quarter. Pitcairn Co.’s holdings in Trane Technologies were worth $3,340,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Trust Point Inc. raised its holdings in Trane Technologies by 3.1% during the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock worth $349,000 after purchasing an additional 27 shares during the last quarter. First Pacific Financial raised its holdings in Trane Technologies by 1.1% during the third quarter. First Pacific Financial now owns 2,674 shares of the company’s stock worth $1,039,000 after purchasing an additional 28 shares during the last quarter. Greenleaf Trust raised its holdings in Trane Technologies by 0.5% during the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock worth $2,275,000 after purchasing an additional 29 shares during the last quarter. Lake Street Advisors Group LLC raised its holdings in shares of Trane Technologies by 1.6% in the third quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company’s stock worth $737,000 after acquiring an additional 30 shares during the last quarter. Finally, PFG Private Wealth Management LLC raised its holdings in shares of Trane Technologies by 4.7% in the second quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock worth $232,000 after acquiring an additional 32 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Price Performance

Shares of NYSE TT opened at $417.42 on Friday. Trane Technologies plc has a 1-year low of $221.22 and a 1-year high of $421.78. The business has a 50-day moving average of $394.03 and a 200-day moving average of $356.08. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. 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 issued its 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 return on equity of 34.62% and a net margin of 12.73%. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the business earned $2.79 earnings per share. The company’s revenue was up 10.0% compared to the same quarter last year. On average, equities analysts anticipate that Trane Technologies plc will post 11.14 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared 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 0.80%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Morgan Stanley assumed coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target for the company. Wells Fargo & Company boosted their price target on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Mizuho boosted their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Barclays lifted their price objective on Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, UBS Group initiated coverage on Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $397.64.

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.