Trane Technologies plc (NYSE:TT) Holdings Boosted by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd grew its holdings in Trane Technologies plc (NYSE:TT) by 12.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,194 shares of the company’s stock after purchasing an additional 476 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Trane Technologies were worth $1,629,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Trust Point Inc. grew its position in Trane Technologies by 3.1% during the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock valued at $349,000 after purchasing an additional 27 shares in the last quarter. First Pacific Financial grew its holdings in shares of Trane Technologies by 1.1% during the 3rd quarter. First Pacific Financial now owns 2,674 shares of the company’s stock valued at $1,039,000 after acquiring an additional 28 shares in the last quarter. Wescott Financial Advisory Group LLC increased its stake in shares of Trane Technologies by 1.7% in the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock worth $670,000 after acquiring an additional 28 shares during the last quarter. Greenleaf Trust raised its holdings in shares of Trane Technologies by 0.5% during the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock worth $2,275,000 after acquiring an additional 29 shares in the last quarter. Finally, Lake Street Advisors Group LLC boosted its position in Trane Technologies by 1.6% during the third quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company’s stock valued at $737,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Down 1.0 %

Shares of TT opened at $413.32 on Tuesday. The stock has a 50 day simple moving average of $394.91 and a 200-day simple moving average of $357.06. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The stock has a market cap of $93.01 billion, a PE ratio of 38.34, a PEG ratio of 2.64 and a beta of 1.02. Trane Technologies plc has a 1 year low of $221.22 and a 1 year high of $422.00.

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, topping analysts’ consensus estimates of $3.23 by $0.14. The business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the company posted $2.79 EPS. On average, sell-side analysts predict that Trane Technologies plc will post 11.14 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. Shareholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio is currently 31.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. 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. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Barclays increased 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. UBS Group started coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price objective for the company. Finally, Northcoast Research initiated coverage on shares of Trane Technologies in a research report on Friday. They set a “buy” rating and a $500.00 target price on the stock. One equities research 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 MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $397.64.

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.