LRI Investments LLC Raises Stock Position in Trane Technologies plc (NYSE:TT)

LRI Investments LLC lifted its holdings in shares of Trane Technologies plc (NYSE:TT) by 7,917.2% during the third quarter, HoldingsChannel.com reports. The fund owned 40,487 shares of the company’s stock after purchasing an additional 39,982 shares during the quarter. Trane Technologies makes up 1.4% of LRI Investments LLC’s holdings, making the stock its 12th largest position. LRI Investments LLC’s holdings in Trane Technologies were worth $15,739,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TT. MidAtlantic Capital Management Inc. purchased a new position in shares of Trane Technologies in the third quarter valued at $27,000. DT Investment Partners LLC acquired a new position in Trane Technologies during the third quarter valued at approximately $36,000. Triad Wealth Partners LLC purchased a new stake in Trane Technologies during the 2nd quarter worth $39,000. Quarry LP acquired a new position in Trane Technologies during the 2nd quarter worth approximately $39,000. Finally, Pittenger & Anderson Inc. acquired a new stake in Trane Technologies during the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the firm’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 owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.38% of the company’s stock.

Trane Technologies Trading Down 0.7 %

Shares of Trane Technologies stock opened at $412.18 on Monday. The firm has a 50-day moving average of $400.85 and a 200-day moving average of $362.45. Trane Technologies plc has a 52-week low of $229.07 and a 52-week high of $422.00. The stock has a market cap of $92.75 billion, a PE ratio of 38.24, a PEG ratio of 2.50 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (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 analysts’ expectations of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.79 EPS. As a group, sell-side analysts forecast that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Announces Dividend

The firm 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 is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.82%. Trane Technologies’s payout ratio is 31.17%.

Wall Street Analyst Weigh In

TT has been the subject of a number of analyst reports. Robert W. Baird reduced their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Barclays lifted their price target on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday. HSBC lowered 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. Finally, Mizuho boosted their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and an average price target of $401.93.

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.