Trane Technologies plc (NYSE:TT) Shares Purchased by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC raised its position in Trane Technologies plc (NYSE:TT) by 5.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,362 shares of the company’s stock after acquiring an additional 65 shares during the period. Verdence Capital Advisors LLC’s holdings in Trane Technologies were worth $529,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TT. DT Investment Partners LLC purchased a new stake in shares of Trane Technologies during the 3rd quarter valued at approximately $36,000. Fortitude Family Office LLC lifted its stake in shares of Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $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 2nd quarter worth $39,000. Quarry LP acquired a new stake in shares of Trane Technologies during the 2nd quarter worth about $39,000. Finally, Pittenger & Anderson Inc. purchased a new stake in Trane Technologies in the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada lifted 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 report on Thursday, August 1st. Morgan Stanley began coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price for the company. The Goldman Sachs Group upped their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Barclays boosted their price objective on Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $380.15.

Trane Technologies Stock Performance

Shares of TT opened at $410.58 on Monday. The stock has a 50-day simple moving average of $381.70 and a 200-day simple moving average of $349.27. 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 1 year low of $220.62 and a 1 year high of $413.74. The stock has a market capitalization of $92.39 billion, a PE ratio of 38.09, a PEG ratio of 2.60 and a beta of 1.02.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results 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 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 quarter in the previous year, the firm earned $2.79 earnings per share. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared 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 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio is presently 31.17%.

Trane Technologies 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.