OPSEU Pension Plan Trust Fund grew its holdings in Trane Technologies plc (NYSE:TT) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,465 shares of the company’s stock after purchasing an additional 207 shares during the quarter. OPSEU Pension Plan Trust Fund’s holdings in Trane Technologies were worth $1,285,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC raised its position in shares of Trane Technologies by 13.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 717 shares of the company’s stock valued at $87,000 after buying an additional 87 shares during the period. MAI Capital Management raised its position in Trane Technologies by 0.9% in the third quarter. MAI Capital Management now owns 9,785 shares of the company’s stock valued at $1,186,000 after purchasing an additional 87 shares during the period. Fisher Asset Management LLC raised its position in Trane Technologies by 1.1% in the second quarter. Fisher Asset Management LLC now owns 11,433 shares of the company’s stock valued at $1,017,000 after purchasing an additional 128 shares during the period. Independent Advisor Alliance raised its position in Trane Technologies by 2.8% in the third quarter. Independent Advisor Alliance now owns 5,066 shares of the company’s stock valued at $614,000 after purchasing an additional 139 shares during the period. Finally, AlphaStar Capital Management LLC raised its position in Trane Technologies by 4.2% in the second quarter. AlphaStar Capital Management LLC now owns 3,556 shares of the company’s stock valued at $359,000 after purchasing an additional 142 shares during the period. 81.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of TT stock traded down $3.26 on Tuesday, reaching $149.18. 14,000 shares of the stock were exchanged, compared to its average volume of 1,601,378. The company has a current ratio of 1.66, a quick ratio of 1.30 and a debt-to-equity ratio of 0.77. The business’s 50 day moving average price is $132.23 and its 200 day moving average price is $109.22. The company has a market capitalization of $36.60 billion, a price-to-earnings ratio of 38.40, a PEG ratio of 6.16 and a beta of 1.08. Trane Technologies plc has a twelve month low of $70.00 and a twelve month high of $153.72.
Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 28th. The company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.38. Trane Technologies had a net margin of 6.76% and a return on equity of 18.82%. Equities research analysts forecast that Trane Technologies plc will post 3.9 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 4th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.42%. Trane Technologies’s payout ratio is currently 33.28%.
In other Trane Technologies news, SVP Keith A. Sultana sold 8,496 shares of the company’s stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $120.00, for a total value of $1,019,520.00. Following the completion of the transaction, the senior vice president now owns 16,679 shares in the company, valued at $2,001,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul A. Camuti sold 15,815 shares of the company’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $117.76, for a total transaction of $1,862,374.40. Following the completion of the transaction, the executive vice president now owns 99,230 shares of the company’s stock, valued at approximately $11,685,324.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,030 shares of company stock valued at $9,859,333. Insiders own 0.92% of the company’s stock.
A number of analysts have issued reports on the company. Morgan Stanley boosted their target price on Trane Technologies from $122.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. TheStreet raised Trane Technologies from a “c+” rating to a “b-” rating in a research report on Monday, July 27th. Smith Barney Citigroup boosted their target price on Trane Technologies from $147.00 to $152.00 in a research report on Thursday, October 29th. Deutsche Bank Aktiengesellschaft boosted their target price on Trane Technologies from $120.00 to $131.00 and gave the company a “hold” rating in a research report on Thursday, October 29th. Finally, Stephens assumed coverage on shares of Trane Technologies in a research note on Thursday, October 15th. They issued an “equal weight” rating for the company. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $121.71.
Trane Technologies Company Profile
Trane Technologies plc provides climate control solutions for buildings, homes, and transportation. It offers offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality; industrial refrigeration products; large and light commercial unitary products;motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.
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