Bedell Frazier Investment Counselling LLC Takes $628,000 Position in Trane Technologies plc (NYSE:TT)

Bedell Frazier Investment Counselling LLC acquired a new stake in Trane Technologies plc (NYSE:TT) in the 3rd quarter, Holdings Channel reports. The firm acquired 1,615 shares of the company’s stock, valued at approximately $628,000.

Several other hedge funds also recently modified their holdings of the stock. Independent Advisor Alliance increased its stake in shares of Trane Technologies by 4.7% in the 3rd quarter. Independent Advisor Alliance now owns 5,344 shares of the company’s stock valued at $2,077,000 after acquiring an additional 239 shares in the last quarter. Harvest Fund Management Co. Ltd grew its position in Trane Technologies by 12.8% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 4,194 shares of the company’s stock valued at $1,629,000 after purchasing an additional 476 shares during the period. Dynamic Technology Lab Private Ltd grew its position in Trane Technologies by 2.3% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 2,553 shares of the company’s stock valued at $992,000 after purchasing an additional 58 shares during the period. Daiwa Securities Group Inc. grew its position in Trane Technologies by 9.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 76,660 shares of the company’s stock valued at $29,800,000 after purchasing an additional 6,878 shares during the period. Finally, Summit Trail Advisors LLC grew its position in Trane Technologies by 7.6% in the 3rd quarter. Summit Trail Advisors LLC now owns 4,281 shares of the company’s stock valued at $1,664,000 after purchasing an additional 302 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the subject of several research reports. Royal Bank of Canada lifted 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. Robert W. Baird reduced their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Stephens reissued an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Barclays lifted 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. One 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.com, Trane Technologies has a consensus rating of “Hold” and a consensus target price of $397.64.

Trane Technologies Stock Up 0.5 %

TT stock opened at $417.49 on Monday. Trane Technologies plc has a fifty-two week low of $221.22 and a fifty-two week high of $421.78. The stock has a fifty day moving average of $394.03 and a 200-day moving average of $356.49. The company has a market capitalization of $93.94 billion, a price-to-earnings ratio of 38.73, a PEG ratio of 2.64 and a beta of 1.02. 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 posted 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 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 the consensus estimate of $5.32 billion. During the same quarter last year, the company earned $2.79 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. As a group, equities research analysts predict that Trane Technologies plc will post 11.14 earnings per share for the current year.

Trane Technologies Announces Dividend

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 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 0.80%. Trane Technologies’s dividend payout ratio is currently 31.17%.

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.