Firetrail Investments PTY Ltd. Grows Stock Holdings in Trane Technologies plc (NYSE:TT)

Firetrail Investments PTY Ltd. increased its holdings in shares of Trane Technologies plc (NYSE:TT) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,596 shares of the company’s stock after purchasing an additional 326 shares during the period. Trane Technologies makes up 3.1% of Firetrail Investments PTY Ltd.’s holdings, making the stock its 17th biggest position. Firetrail Investments PTY Ltd.’s holdings in Trane Technologies were worth $10,717,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TT. Albar Capital Ltd acquired a new position in shares of Trane Technologies in the second quarter worth about $14,556,000. M&G Plc purchased a new position in Trane Technologies during the first quarter worth approximately $8,939,000. GDS Wealth Management grew its holdings in Trane Technologies by 4.3% in the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after purchasing an additional 2,124 shares during the period. Gradient Investments LLC raised its stake in shares of Trane Technologies by 7,988.0% during the 2nd quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock worth $665,000 after buying an additional 1,997 shares during the period. Finally, Bessemer Group Inc. increased its holdings 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 in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

TT opened at $414.94 on Thursday. The firm has a market cap of $93.37 billion, a price-to-earnings ratio of 38.49, a PEG ratio of 2.60 and a beta of 1.02. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The stock’s 50-day moving average price is $384.06 and its 200 day moving average price is $351.21. Trane Technologies plc has a 12-month low of $221.22 and a 12-month high of $421.78.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS 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 business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the previous year, the firm posted $2.79 earnings per share. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 annualized dividend and a yield of 0.81%. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

Analysts Set New Price Targets

A number of analysts have recently commented on TT shares. Morgan Stanley began coverage on shares of Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 target price for the company. Barclays raised their target price on Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Royal Bank of Canada boosted their price target on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. 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. Finally, Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Trane Technologies has an average rating of “Hold” and an average target price 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.