Trane Technologies plc (NYSE:TT) Stock Holdings Boosted by Fmr LLC

Fmr LLC grew its position in Trane Technologies plc (NYSE:TT) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,337,672 shares of the company’s stock after purchasing an additional 397,537 shares during the period. Fmr LLC owned approximately 4.59% of Trane Technologies worth $4,018,563,000 as of its most recent SEC filing.

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

Trane Technologies Trading Down 1.0 %

NYSE:TT opened at $413.32 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The company has a market capitalization of $93.01 billion, a P/E ratio of 38.34, a P/E/G ratio of 2.64 and a beta of 1.02. The stock’s 50 day moving average price is $394.91 and its 200 day moving average price is $357.06. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $422.00.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the previous year, the business earned $2.79 EPS. Trane Technologies’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, research analysts forecast 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. Investors of record on Friday, December 6th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s payout ratio is 31.17%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TT shares. Morgan Stanley started coverage on shares of Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective on the stock. Royal Bank of Canada upped their price objective on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. Barclays lifted their target price on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Mizuho raised their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, UBS Group assumed coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.