Plato Investment Management Ltd Makes New Investment in Trane Technologies plc (NYSE:TT)

Plato Investment Management Ltd purchased a new stake in shares of Trane Technologies plc (NYSE:TT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,831 shares of the company’s stock, valued at approximately $4,594,000.

Other institutional investors have also modified their holdings of the company. Albar Capital Ltd acquired a new position in Trane Technologies during the 2nd quarter valued at about $14,556,000. M&G Plc bought a new position in Trane Technologies in the 1st quarter worth approximately $8,939,000. GDS Wealth Management increased its position in Trane Technologies by 4.3% in the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after acquiring an additional 2,124 shares during the period. Gradient Investments LLC raised its stake in Trane Technologies by 7,988.0% during the 2nd quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock valued at $665,000 after acquiring an additional 1,997 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in Trane Technologies by 29.2% during the 1st quarter. Bessemer Group Inc. now owns 53,255 shares of the company’s stock worth $15,988,000 after acquiring an additional 12,045 shares during the period. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 0.9 %

Shares of NYSE:TT opened at $414.94 on Thursday. The firm has a 50 day simple moving average of $384.06 and a 200 day simple moving average of $351.21. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $421.78. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The company has a market cap of $93.37 billion, a PE ratio of 38.49, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the prior year, the company earned $2.79 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, research analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. The Goldman Sachs Group raised their price target on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Royal Bank of Canada boosted their price target 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. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a report on Thursday, October 31st. Wells Fargo & Company boosted their target price on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Finally, Stephens reaffirmed an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $389.77.

Trane Technologies Company 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.