One Way Holdings LLC boosted its holdings in Trane Technologies plc (NYSE:TT – Free Report) by 4.1% in the third quarter, HoldingsChannel.com reports. The firm owned 64,734 shares of the company’s stock after buying an additional 2,567 shares during the quarter. Trane Technologies comprises about 1.3% of One Way Holdings LLC’s investment portfolio, making the stock its 22nd largest holding. One Way Holdings LLC’s holdings in Trane Technologies were worth $29,259,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. Amundi increased its stake in Trane Technologies by 47.8% in the first quarter. Amundi now owns 2,174,396 shares of the company’s stock valued at $906,158,000 after purchasing an additional 703,018 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Trane Technologies by 10.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,878,018 shares of the company’s stock worth $782,707,000 after buying an additional 180,537 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Trane Technologies by 3.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,035,241 shares of the company’s stock worth $431,347,000 after buying an additional 32,286 shares during the last quarter. Ninety One UK Ltd boosted its holdings in shares of Trane Technologies by 0.4% in the 3rd quarter. Ninety One UK Ltd now owns 926,668 shares of the company’s stock valued at $418,835,000 after buying an additional 3,624 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Trane Technologies by 51.9% in the 1st quarter. California Public Employees Retirement System now owns 686,691 shares of the company’s stock valued at $286,172,000 after buying an additional 234,666 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.
Trane Technologies Price Performance
TT stock opened at $410.30 on Monday. The company has a market capitalization of $89.81 billion, a P/E ratio of 28.98, a PEG ratio of 1.92 and a beta of 1.19. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $505.87. The business has a 50 day simple moving average of $450.58 and a 200-day simple moving average of $453.99. The company has a current ratio of 1.12, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.
Trane Technologies (NYSE:TT – Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $4.86 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.12. Trane Technologies had a net margin of 13.56% and a return on equity of 37.26%. The business had revenue of $6.76 billion for the quarter, compared to analysts’ expectations of $6.50 billion. During the same period in the previous year, the company posted $3.88 EPS. The company’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, equities analysts anticipate that Trane Technologies plc will post 15.28 EPS for the current year.
Trane Technologies Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 4th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, December 4th. Trane Technologies’s dividend payout ratio (DPR) is presently 29.66%.
Insider Transactions at Trane Technologies
In other Trane Technologies news, CEO David Regnery sold 48,091 shares of Trane Technologies stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total value of $23,083,680.00. Following the transaction, the chief executive officer directly owned 96,951 shares in the company, valued at approximately $46,536,480. The trade was a 33.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.
Wall Street Analyst Weigh In
TT has been the topic of a number of recent analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $500.00 target price on shares of Trane Technologies in a research report on Friday. JPMorgan Chase & Co. assumed coverage on shares of Trane Technologies in a research report on Friday, October 9th. They issued an “overweight” rating and a $550.00 price target for the company. Mizuho upped their price objective on shares of Trane Technologies from $475.00 to $485.00 and gave the company a “neutral” rating in a research note on Thursday, October 15th. Wall Street Zen raised Trane Technologies from a “hold” rating to a “buy” rating in a report on Saturday. Finally, BNP Paribas Exane lifted their target price on Trane Technologies from $560.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $536.79.
View Our Latest Analysis on TT
Trane Technologies Company Profile
Trane Technologies plc is a global climate technology company that develops solutions for heating, ventilation, air conditioning, refrigeration and building management. Its products and services are designed to improve indoor comfort, energy efficiency and the sustainability of commercial, industrial, residential and institutional buildings.
The company operates through well-known brands including Trane, Thermo King and Frigoblock. Trane provides HVAC equipment, building controls, digital solutions, maintenance and energy services, while Thermo King and Frigoblock offer temperature-control systems for refrigerated transportation.
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