Trane Technologies plc (NYSE:TT) Shares Purchased by West Family Investments Inc.

West Family Investments Inc. increased its stake in shares of Trane Technologies plc (NYSE:TT) by 17.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,072 shares of the company’s stock after buying an additional 157 shares during the quarter. West Family Investments Inc.’s holdings in Trane Technologies were worth $417,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of TT. O Shaughnessy Asset Management LLC raised its position in shares of Trane Technologies by 14.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 17,459 shares of the company’s stock worth $5,241,000 after purchasing an additional 2,149 shares during the last quarter. Bessemer Group Inc. grew its stake in Trane Technologies by 29.2% in the 1st quarter. Bessemer Group Inc. now owns 53,255 shares of the company’s stock worth $15,988,000 after acquiring an additional 12,045 shares during the period. Lake Street Advisors Group LLC grew its stake in Trane Technologies by 27.9% in the 1st quarter. Lake Street Advisors Group LLC now owns 1,742 shares of the company’s stock worth $523,000 after acquiring an additional 380 shares during the period. Crewe Advisors LLC purchased a new stake in Trane Technologies in the 1st quarter worth approximately $90,000. Finally, CreativeOne Wealth LLC purchased a new stake in Trane Technologies in the 1st quarter worth approximately $379,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Up 0.9 %

Shares of Trane Technologies stock opened at $413.05 on Wednesday. The company has a fifty day moving average price of $390.71 and a 200 day moving average price of $354.63. 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 twelve month low of $221.22 and a twelve month high of $421.78. The stock has a market cap of $92.94 billion, a price-to-earnings ratio of 38.32, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02.

Trane Technologies (NYSE:TT) last announced its quarterly 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 analysts’ expectations of $5.32 billion. During the same period in the prior year, the company earned $2.79 EPS. The firm’s revenue was up 10.0% on a year-over-year basis. Equities research analysts forecast that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.81%. Trane Technologies’s dividend payout ratio is currently 31.17%.

Wall Street Analyst Weigh In

Several research firms have commented on TT. Wells Fargo & Company lifted their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research note on Thursday, October 31st. Mizuho lifted their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. The Goldman Sachs Group lifted their target price 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. Finally, UBS Group initiated coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They set a “buy” rating and a $500.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $389.77.

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.