Hendershot Investments Inc. Purchases 1,125 Shares of Trane Technologies plc (NYSE:TT)

Hendershot Investments Inc. increased its position in shares of Trane Technologies plc (NYSE:TT) by 98.3% during the 3rd quarter, Holdings Channel reports. The firm owned 2,270 shares of the company’s stock after purchasing an additional 1,125 shares during the quarter. Hendershot Investments Inc.’s holdings in Trane Technologies were worth $882,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new stake in Trane Technologies in the third quarter worth about $27,000. DT Investment Partners LLC purchased a new position in Trane Technologies in the third quarter valued at approximately $36,000. Pittenger & Anderson Inc. bought a new stake in shares of Trane Technologies in the third quarter valued at $39,000. Triad Wealth Partners LLC purchased a new position in shares of Trane Technologies during the 2nd quarter valued at $39,000. Finally, Quarry LP bought a new stake in Trane Technologies in the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.5 %

NYSE:TT opened at $412.10 on Friday. The company has a 50-day moving average price of $400.29 and a 200-day moving average price of $361.49. The stock has a market cap of $92.73 billion, a price-to-earnings ratio of 38.23, a P/E/G ratio of 2.53 and a beta of 1.03. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 12 month low of $229.07 and a 12 month high of $422.00.

Trane Technologies (NYSE:TT) last issued 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 return on equity of 34.62% and a net margin of 12.73%. The company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the prior year, the firm earned $2.79 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities analysts predict that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the transaction, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This represents a 25.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TT shares. Robert W. Baird lowered their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. UBS Group began coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price target on the stock. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Morgan Stanley assumed coverage on Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. Finally, Wells Fargo & Company raised their price objective on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus target price of $401.93.

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.