Quarry LP Increases Stock Holdings in Trane Technologies plc (NYSE:TT)

Quarry LP boosted its position in Trane Technologies plc (NYSE:TT) by 1,198.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,545 shares of the company’s stock after purchasing an additional 1,426 shares during the period. Quarry LP’s holdings in Trane Technologies were worth $601,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Resurgent Financial Advisors LLC boosted its position in Trane Technologies by 2.5% in the third quarter. Resurgent Financial Advisors LLC now owns 1,614 shares of the company’s stock worth $627,000 after purchasing an additional 39 shares during the last quarter. Reynders McVeigh Capital Management LLC boosted its position in Trane Technologies by 8.2% in the third quarter. Reynders McVeigh Capital Management LLC now owns 1,975 shares of the company’s stock worth $768,000 after purchasing an additional 150 shares during the last quarter. Polymer Capital Management HK LTD purchased a new position in Trane Technologies in the third quarter worth about $917,000. IHT Wealth Management LLC boosted its position in Trane Technologies by 55.3% in the third quarter. IHT Wealth Management LLC now owns 1,249 shares of the company’s stock worth $485,000 after purchasing an additional 445 shares during the last quarter. Finally, Ingalls & Snyder LLC purchased a new position in Trane Technologies in the third quarter worth about $232,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TT shares. Morgan Stanley started coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective on the stock. Wells Fargo & Company raised their price objective on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Barclays raised their price objective on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. UBS Group started coverage on Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price objective on the stock. Finally, HSBC downgraded 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $397.64.

Trane Technologies Stock Performance

NYSE:TT opened at $417.46 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies plc has a 1 year low of $227.86 and a 1 year high of $422.00. The stock’s 50 day simple moving average is $399.72 and its two-hundred day simple moving average is $361.12. The company has a market cap of $93.94 billion, a price-to-earnings ratio of 38.73, a PEG ratio of 2.50 and a beta of 1.03.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the previous year, the company posted $2.79 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts anticipate that Trane Technologies plc will post 11.14 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 paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is 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.