Ingalls & Snyder LLC Acquires Shares of 596 Trane Technologies plc (NYSE:TT)

Ingalls & Snyder LLC acquired a new stake in shares of Trane Technologies plc (NYSE:TT) in the third quarter, HoldingsChannel.com reports. The firm acquired 596 shares of the company’s stock, valued at approximately $232,000.

A number of other institutional investors and hedge funds have also bought and sold shares of TT. MidAtlantic Capital Management Inc. bought a new stake in shares of Trane Technologies in the third quarter worth approximately $27,000. DT Investment Partners LLC bought a new stake in shares of Trane Technologies in the third quarter worth approximately $36,000. Triad Wealth Partners LLC bought a new stake in shares of Trane Technologies in the second quarter worth approximately $39,000. Quarry LP bought a new stake in shares of Trane Technologies in the second quarter worth approximately $39,000. Finally, Pittenger & Anderson Inc. bought a new stake in shares of Trane Technologies in the third quarter worth approximately $39,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $417.46 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 firm has a fifty day moving average price of $399.72 and a 200 day moving average price of $361.12. Trane Technologies plc has a fifty-two week low of $227.86 and a fifty-two week high of $422.00. The firm has a market cap of $93.94 billion, a price-to-earnings ratio of 38.73, a P/E/G ratio of 2.52 and a beta of 1.03.

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 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 firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the prior year, the business earned $2.79 earnings per share. Trane Technologies’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, sell-side analysts expect that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.80%. Trane Technologies’s dividend payout ratio is 31.17%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TT shares. The Goldman Sachs Group lifted their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Barclays raised their price objective on shares of Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. UBS Group initiated coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price objective on the stock. Finally, Morgan Stanley initiated coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $397.64.

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.