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

West Family Investments Inc. raised its holdings in Trane Technologies plc (NYSE:TT) by 17.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,072 shares of the company’s stock after buying an additional 157 shares during the period. West Family Investments Inc.’s holdings in Trane Technologies were worth $417,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TT. MidAtlantic Capital Management Inc. purchased a new position in shares of Trane Technologies during the third quarter worth about $27,000. DT Investment Partners LLC purchased a new position in shares of Trane Technologies during the third quarter worth about $36,000. Fortitude Family Office LLC grew its holdings in shares of Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after purchasing an additional 43 shares during the last quarter. Triad Wealth Partners LLC purchased a new position in shares of Trane Technologies during the second quarter worth about $39,000. Finally, Quarry LP purchased a new position in shares of Trane Technologies during the second quarter worth about $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $413.05 on Wednesday. The company has a 50-day moving average price of $390.71 and a 200 day moving average price of $354.63. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $421.78. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The company has a market cap of $92.94 billion, a P/E ratio of 38.32, a PEG ratio of 2.58 and a beta of 1.02.

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

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.81%. Trane Technologies’s payout ratio is 31.17%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Stephens reaffirmed an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a report on Thursday, October 31st. Wells Fargo & Company raised their price target on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. 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. Finally, Barclays raised their price target on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $389.77.

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.