Freemont Management S.A. Purchases New Stake in Trane Technologies plc (NYSE:TT)

Freemont Management S.A. bought a new position in Trane Technologies plc (NYSE:TT) in the third quarter, Holdings Channel.com reports. The firm bought 4,500 shares of the company’s stock, valued at approximately $1,749,000.

Several other hedge funds also recently modified their holdings of TT. Vanguard Group Inc. increased its position in Trane Technologies by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock valued at $5,670,032,000 after buying an additional 174,251 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Trane Technologies by 0.5% in the first quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock valued at $5,221,599,000 after acquiring an additional 80,536 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after acquiring an additional 1,640,569 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Trane Technologies by 1.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,438,515 shares of the company’s stock worth $559,194,000 after purchasing an additional 18,403 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of Trane Technologies by 0.3% in the 2nd quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock worth $357,043,000 after purchasing an additional 2,898 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Up 0.9 %

Shares of TT stock opened at $414.94 on Thursday. The company has a market cap of $93.37 billion, a price-to-earnings ratio of 38.49, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The stock’s fifty day moving average price is $384.06 and its 200 day moving average price is $351.21. Trane Technologies plc has a 1-year low of $221.22 and a 1-year high of $421.78.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.79 EPS. On average, research analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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 paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio is currently 31.17%.

Analysts Set New Price Targets

TT has been the topic of several analyst reports. Robert W. Baird cut their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. UBS Group initiated coverage on Trane Technologies in a research report on Wednesday. They issued a “buy” rating and a $500.00 price objective on the stock. Wells Fargo & Company lifted their target price on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Mizuho increased their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada boosted their target price on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies 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.