Banque Cantonale Vaudoise Grows Position in Trane Technologies plc (NYSE:TT)

Banque Cantonale Vaudoise raised its position in shares of Trane Technologies plc (NYSE:TT) by 9.0% during the 3rd quarter, Holdings Channel reports. The fund owned 29,176 shares of the company’s stock after purchasing an additional 2,408 shares during the period. Banque Cantonale Vaudoise’s holdings in Trane Technologies were worth $11,342,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Wealth Advisors LLC lifted its position in Trane Technologies by 4.5% during the third quarter. Fifth Third Wealth Advisors LLC now owns 7,089 shares of the company’s stock valued at $2,756,000 after purchasing an additional 304 shares during the last quarter. Caprock Group LLC lifted its holdings in shares of Trane Technologies by 36.3% in the 3rd quarter. Caprock Group LLC now owns 5,264 shares of the company’s stock valued at $2,046,000 after acquiring an additional 1,401 shares during the last quarter. Pathstone Holdings LLC grew its position in Trane Technologies by 9.9% in the third quarter. Pathstone Holdings LLC now owns 41,808 shares of the company’s stock worth $16,252,000 after acquiring an additional 3,766 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in Trane Technologies during the third quarter worth approximately $27,000. Finally, Strengthening Families & Communities LLC raised its position in Trane Technologies by 3.2% during the third quarter. Strengthening Families & Communities LLC now owns 4,751 shares of the company’s stock valued at $1,847,000 after purchasing an additional 147 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Performance

TT stock opened at $409.70 on Tuesday. The firm has a 50-day simple moving average of $389.37 and a two-hundred day simple moving average of $353.97. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies plc has a one year low of $221.22 and a one year high of $421.78. The firm has a market cap of $92.19 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 2.58 and a beta of 1.02.

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, beating the consensus estimate of $3.23 by $0.14. The company 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 quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.79 EPS. On average, equities analysts forecast that Trane Technologies plc will post 11.13 EPS 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. Stockholders of record on Friday, December 6th will be paid a dividend of $0.84 per share. 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 payout ratio is currently 31.17%.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of recent research reports. Wells Fargo & Company lifted 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. Barclays lifted their price objective on shares of Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Robert W. Baird reduced their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Morgan Stanley started coverage on shares of Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. Finally, Royal Bank of Canada raised 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 note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.