Bedell Frazier Investment Counselling LLC Purchases New Shares in Trane Technologies plc (NYSE:TT)

Bedell Frazier Investment Counselling LLC acquired a new position in shares of Trane Technologies plc (NYSE:TT) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,615 shares of the company’s stock, valued at approximately $628,000.

A number of other large investors have also recently bought and sold shares of TT. MidAtlantic Capital Management Inc. acquired a new stake in Trane Technologies during the third quarter worth about $27,000. DT Investment Partners LLC acquired a new stake in Trane Technologies during the third quarter worth about $36,000. Fortitude Family Office LLC grew its stake in 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 buying an additional 43 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in Trane Technologies during the second quarter worth about $39,000. Finally, Quarry LP acquired a new stake in 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 Stock Up 0.5 %

Trane Technologies stock opened at $417.49 on Monday. 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 plc has a 52-week low of $221.22 and a 52-week high of $421.78. The firm has a 50 day moving average price of $394.03 and a two-hundred day moving average price of $356.49. The firm has a market cap of $93.94 billion, a price-to-earnings ratio of 38.73, a PEG ratio of 2.64 and a beta of 1.02.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (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 firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter last year, the business earned $2.79 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. Equities analysts predict that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.80%. Trane Technologies’s payout ratio is 31.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a research note on Thursday, October 31st. Royal Bank of Canada raised 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 note on Thursday, August 1st. Northcoast Research started coverage on shares of Trane Technologies in a research note on Friday. They issued a “buy” rating and a $500.00 price target on the stock. Robert W. Baird reduced their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Barclays raised their price target on shares of Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $397.64.

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.