Trane Technologies plc (NYSE:TT) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its position in Trane Technologies plc (NYSE:TT) by 35.8% in the third quarter, HoldingsChannel reports. The firm owned 2,550,511 shares of the company’s stock after buying an additional 671,691 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Trane Technologies were worth $991,460,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TT. MidAtlantic Capital Management Inc. purchased a new stake in shares of Trane Technologies in the 3rd quarter valued at approximately $27,000. DT Investment Partners LLC purchased a new position in Trane Technologies in the third quarter valued at $36,000. Fortitude Family Office LLC raised its position 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. Triad Wealth Partners LLC acquired a new stake in Trane Technologies during the second quarter worth approximately $39,000. Finally, Quarry LP purchased a new stake in Trane Technologies in the second quarter valued at $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.5 %

NYSE TT opened at $411.16 on Thursday. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $421.78. The stock has a market cap of $92.52 billion, a P/E ratio of 38.14, a PEG ratio of 2.62 and a beta of 1.02. 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 company’s fifty day simple moving average is $391.85 and its 200-day simple moving average is $355.02.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $5.32 billion. During the same period in the previous year, the company earned $2.79 earnings per share. Trane Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. Equities research analysts predict that Trane Technologies plc will post 11.14 EPS 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. Stockholders of record on Friday, December 6th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is 31.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TT shares. Stephens reissued an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. Morgan Stanley started coverage on Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. UBS Group started coverage on Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price objective for the company. Finally, Wells Fargo & Company lifted their price target on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and an average target price of $389.77.

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.