Trane Technologies plc (NYSE:TT) Shares Purchased by Investment Management Corp of Ontario

Investment Management Corp of Ontario raised its holdings in Trane Technologies plc (NYSE:TT) by 36.8% in the third quarter, Holdings Channel.com reports. The fund owned 11,145 shares of the company’s stock after acquiring an additional 2,998 shares during the period. Investment Management Corp of Ontario’s holdings in Trane Technologies were worth $4,332,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TT. MidAtlantic Capital Management Inc. acquired a new stake in Trane Technologies during the third quarter valued at approximately $27,000. DT Investment Partners LLC bought a new position in shares of Trane Technologies in the third quarter valued at $36,000. Pittenger & Anderson Inc. acquired a new stake in shares of Trane Technologies during the 3rd quarter valued at $39,000. Fortitude Family Office LLC boosted its stake in shares of Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after acquiring an additional 43 shares in the last quarter. Finally, Triad Wealth Partners LLC acquired a new position in shares of Trane Technologies in the 2nd quarter worth $39,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.5 %

Shares of NYSE TT opened at $412.56 on Wednesday. The stock has a market cap of $92.83 billion, a price-to-earnings ratio of 38.27, a PEG ratio of 2.52 and a beta of 1.03. The business has a 50 day simple moving average of $399.13 and a 200 day simple moving average of $360.72. 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 52 week low of $226.18 and a 52 week high of $422.00.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping 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 net margin of 12.73% and a return on equity of 34.62%. Trane Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.79 EPS. On average, research analysts predict that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.81%. Trane Technologies’s dividend payout ratio is currently 31.17%.

Analyst Ratings Changes

Several research firms have issued reports on TT. Barclays boosted their price objective on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Morgan Stanley started coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target for the company. Robert W. Baird lowered their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Mizuho increased their target price on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group lifted 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $397.64.

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.