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

Cornerstone Advisors LLC lifted its stake in Trane Technologies plc (NYSE:TT) by 45.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,300 shares of the company’s stock after buying an additional 3,200 shares during the period. Cornerstone Advisors LLC’s holdings in Trane Technologies were worth $4,004,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC boosted its stake 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 acquiring an additional 1,640,569 shares during the last quarter. Swedbank AB bought a new position in shares of Trane Technologies during the first quarter worth about $206,211,000. 1832 Asset Management L.P. grew its stake in Trane Technologies by 7,363.1% in the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock worth $139,067,000 after purchasing an additional 417,120 shares in the last quarter. Point72 Asset Management L.P. increased its holdings 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 valued at $147,263,000 after buying an additional 277,274 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Trane Technologies by 1,023.0% during the second quarter. Assenagon Asset Management S.A. now owns 235,858 shares of the company’s stock valued at $77,581,000 after buying an additional 214,855 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

NYSE TT opened at $411.16 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $92.52 billion, a PE ratio of 38.14, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. Trane Technologies plc has a 12-month low of $221.22 and a 12-month high of $421.78. The company has a 50 day moving average price of $391.85 and a two-hundred day moving average price of $355.02.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.79 EPS. As a group, equities analysts predict that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.82%. Trane Technologies’s dividend payout ratio is 31.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TT shares. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a report on Thursday, October 31st. Morgan Stanley began coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price for the company. Robert W. Baird decreased their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Mizuho boosted their price objective on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, UBS Group assumed coverage on Trane Technologies in a research report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $389.77.

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.