PDT Partners LLC Invests $972,000 in Trane Technologies plc (NYSE:TT)

PDT Partners LLC bought a new stake in Trane Technologies plc (NYSE:TT) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 2,500 shares of the company’s stock, valued at approximately $972,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Albar Capital Ltd acquired a new position in Trane Technologies during the second quarter worth $14,556,000. GDS Wealth Management raised its holdings in shares of Trane Technologies by 4.3% in the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after acquiring an additional 2,124 shares during the last quarter. King Wealth Management Group bought a new position in Trane Technologies in the 3rd quarter valued at about $1,879,000. Gradient Investments LLC boosted its stake in Trane Technologies by 7,988.0% during the 2nd quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock valued at $665,000 after purchasing an additional 1,997 shares during the last quarter. Finally, QRG Capital Management Inc. increased its holdings in Trane Technologies by 4.1% during the 2nd quarter. QRG Capital Management Inc. now owns 39,475 shares of the company’s stock worth $12,985,000 after purchasing an additional 1,554 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

TT has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Stephens reiterated an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. Mizuho raised their price target 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. Northcoast Research started coverage on shares of Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target on the stock. Finally, The Goldman Sachs Group increased their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $397.64.

Trane Technologies Stock Performance

Shares of TT opened at $416.22 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The firm has a market cap of $93.66 billion, a PE ratio of 38.61, a PEG ratio of 2.52 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. The stock’s fifty day moving average price is $398.01 and its two-hundred day moving average price is $359.50.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. The firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company earned $2.79 earnings per share. On average, equities research analysts forecast that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.81%. Trane Technologies’s dividend payout ratio is currently 31.17%.

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.