Summit Trail Advisors LLC Increases Stock Position in Trane Technologies plc (NYSE:TT)

Summit Trail Advisors LLC raised its position in Trane Technologies plc (NYSE:TT) by 7.6% during the third quarter, Holdings Channel.com reports. The fund owned 4,281 shares of the company’s stock after purchasing an additional 302 shares during the quarter. Summit Trail Advisors LLC’s holdings in Trane Technologies were worth $1,664,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC increased its holdings in Trane Technologies by 35,914.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after purchasing an additional 1,640,569 shares during the period. Swedbank AB bought a new stake in shares of Trane Technologies in the 1st quarter worth approximately $206,211,000. Massachusetts Financial Services Co. MA increased its stake in shares of Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after buying an additional 671,691 shares during the period. 1832 Asset Management L.P. raised its holdings in shares of Trane Technologies by 7,363.1% during the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock valued at $139,067,000 after acquiring an additional 417,120 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Trane Technologies by 162.7% in the second quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock worth $147,263,000 after acquiring an additional 277,274 shares during the period. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TT. Morgan Stanley assumed coverage on shares of Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. Royal Bank of Canada increased their target price 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. The Goldman Sachs Group lifted their price target on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Robert W. Baird decreased their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Mizuho boosted their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $397.64.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $417.49 on Monday. 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 12 month low of $221.22 and a 12 month high of $421.78. The company has a market capitalization of $93.94 billion, a price-to-earnings ratio of 38.73, a PEG ratio of 2.64 and a beta of 1.02. The firm’s 50-day moving average is $394.03 and its 200 day moving average is $356.49.

Trane Technologies (NYSE:TT) last issued its 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. The firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.79 earnings per share. Research analysts predict that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend yield of 0.80%. Trane Technologies’s dividend payout ratio is currently 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.