Fosse Capital Partners LLP Reduces Stock Holdings in Trane Technologies plc (NYSE:TT)

Fosse Capital Partners LLP trimmed its position in Trane Technologies plc (NYSE:TT) by 40.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 166,317 shares of the company’s stock after selling 111,936 shares during the period. Trane Technologies comprises 26.6% of Fosse Capital Partners LLP’s investment portfolio, making the stock its 3rd biggest position. Fosse Capital Partners LLP owned approximately 0.07% of Trane Technologies worth $64,652,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. MidAtlantic Capital Management Inc. bought a new position in Trane Technologies during the third quarter valued at about $27,000. DT Investment Partners LLC purchased a new stake in shares of Trane Technologies during the 3rd quarter worth approximately $36,000. Fortitude Family Office LLC raised its holdings 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 worth $37,000 after purchasing an additional 43 shares during the period. Triad Wealth Partners LLC purchased a new position in Trane Technologies in the second quarter valued at approximately $39,000. Finally, Quarry LP purchased a new stake in Trane Technologies in the second quarter worth $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Morgan Stanley started coverage on Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 price target for the company. Stephens reiterated an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. Barclays boosted their price target on shares of Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Mizuho raised their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Northcoast Research assumed coverage on shares of Trane Technologies in a report on Friday. They set a “buy” rating and a $500.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average price target of $397.64.

Trane Technologies Trading Up 0.5 %

Shares of Trane Technologies stock opened at $417.42 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies plc has a 1 year low of $221.22 and a 1 year high of $421.78. The firm has a market cap of $93.93 billion, a PE ratio of 38.72, a PEG ratio of 2.63 and a beta of 1.02. The company has a 50 day simple moving average of $394.03 and a two-hundred day simple moving average of $356.08.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $5.32 billion. During the same period in the previous year, the business earned $2.79 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. Analysts expect that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 dividend on an annualized basis and a yield of 0.80%. Trane Technologies’s payout ratio is 31.17%.

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.