Integrated Investment Consultants LLC Purchases 474 Shares of Trane Technologies plc (NYSE:TT)

Integrated Investment Consultants LLC boosted its holdings in Trane Technologies plc (NYSE:TT) by 61.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,240 shares of the company’s stock after buying an additional 474 shares during the quarter. Integrated Investment Consultants LLC’s holdings in Trane Technologies were worth $482,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TT. International Assets Investment Management LLC raised 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 worth $639,514,000 after purchasing an additional 1,640,569 shares during the last quarter. Swedbank AB acquired a new position in Trane Technologies in the first quarter valued at $206,211,000. 1832 Asset Management L.P. lifted its holdings 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 valued at $139,067,000 after buying an additional 417,120 shares during the period. Point72 Asset Management L.P. boosted its position in Trane Technologies by 162.7% during the second quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock valued at $147,263,000 after acquiring an additional 277,274 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Trane Technologies by 1,023.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 235,858 shares of the company’s stock worth $77,581,000 after acquiring an additional 214,855 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Up 1.0 %

TT opened at $415.39 on Friday. Trane Technologies plc has a fifty-two week low of $221.22 and a fifty-two week high of $421.78. 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 company’s 50-day moving average is $392.96 and its 200 day moving average is $355.44. The firm has a market capitalization of $93.47 billion, a P/E ratio of 38.53, a PEG ratio of 2.62 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 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. Trane Technologies’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the business posted $2.79 earnings per share. Research analysts expect that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.81%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Wall Street Analysts Forecast Growth

TT has been the subject of several recent analyst reports. Morgan Stanley began coverage on Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 target price for the company. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research note on Thursday, October 31st. Mizuho increased their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Barclays lifted their price target on shares of Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada increased their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.