Stonebrook Private Inc. Buys 49 Shares of Trane Technologies plc (NYSE:TT)

Stonebrook Private Inc. increased its stake in Trane Technologies plc (NYSE:TT) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,348 shares of the company’s stock after buying an additional 49 shares during the period. Stonebrook Private Inc.’s holdings in Trane Technologies were worth $2,079,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Albar Capital Ltd bought a new position in shares of Trane Technologies in the 2nd quarter worth about $14,556,000. GDS Wealth Management increased its stake in shares of Trane Technologies by 4.3% during the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after purchasing an additional 2,124 shares in the last quarter. King Wealth Management Group purchased a new position in shares of Trane Technologies during the third quarter valued at approximately $1,879,000. Gradient Investments LLC boosted its position in shares of Trane Technologies by 7,988.0% in the 2nd quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock worth $665,000 after purchasing an additional 1,997 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of Trane Technologies by 4.1% in the 2nd quarter. QRG Capital Management Inc. now owns 39,475 shares of the company’s stock worth $12,985,000 after buying an additional 1,554 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on TT. Mizuho boosted their target price on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Barclays upped their price target 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. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a report on Thursday, October 31st. Royal Bank of Canada raised their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. Finally, UBS Group started coverage on Trane Technologies in a research report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $397.64.

Trane Technologies Trading Up 0.5 %

TT stock opened at $417.42 on Friday. Trane Technologies plc has a twelve month low of $221.22 and a twelve month high of $421.78. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The firm’s fifty day simple moving average is $394.03 and its two-hundred day simple moving average is $356.08. The stock has a market capitalization of $93.93 billion, a price-to-earnings ratio of 38.72, a price-to-earnings-growth ratio of 2.63 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 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the prior year, the business posted $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, analysts anticipate that Trane Technologies plc will post 11.14 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.80%. Trane Technologies’s dividend payout ratio (DPR) is currently 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.