Loomis Sayles & Co. L P Raises Position in Trane Technologies plc (NYSE:TT)

Loomis Sayles & Co. L P lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 364,780 shares of the company’s stock after buying an additional 6,352 shares during the period. Loomis Sayles & Co. L P owned about 0.16% of Trane Technologies worth $141,801,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Advisors Asset Management Inc. raised its holdings in shares of Trane Technologies by 172.2% in the first quarter. Advisors Asset Management Inc. now owns 1,791 shares of the company’s stock valued at $538,000 after purchasing an additional 1,133 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Trane Technologies by 21.5% in the 1st quarter. 1832 Asset Management L.P. now owns 5,665 shares of the company’s stock worth $1,701,000 after buying an additional 1,004 shares during the last quarter. SVB Wealth LLC grew its holdings in shares of Trane Technologies by 22.3% in the first quarter. SVB Wealth LLC now owns 4,091 shares of the company’s stock valued at $1,228,000 after acquiring an additional 745 shares in the last quarter. Interval Partners LP purchased a new stake in shares of Trane Technologies during the first quarter valued at approximately $11,759,000. Finally, Vancity Investment Management Ltd lifted its holdings in Trane Technologies by 3.0% during the first quarter. Vancity Investment Management Ltd now owns 46,180 shares of the company’s stock worth $13,863,000 after acquiring an additional 1,362 shares during the period. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 0.5 %

Shares of Trane Technologies stock opened at $417.49 on Monday. The company’s 50-day moving average price is $394.03 and its 200-day moving average price is $356.49. The company has a market cap of $93.94 billion, a price-to-earnings ratio of 38.73, a PEG ratio of 2.64 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 current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating 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 firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period last year, the firm earned $2.79 EPS. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities analysts expect that Trane Technologies plc will post 11.14 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. Shareholders of record on Friday, December 6th will be issued 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 0.80%. Trane Technologies’s payout ratio is currently 31.17%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TT. UBS Group assumed coverage on Trane Technologies in a research note on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Northcoast Research assumed coverage on Trane Technologies in a research note on Friday. They issued a “buy” rating and a $500.00 price objective on the stock. Finally, HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and a consensus price target of $397.64.

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.