Peregrine Asset Advisers Inc. Makes New Investment in Trane Technologies plc (NYSE:TT)

Peregrine Asset Advisers Inc. bought a new position in shares of Trane Technologies plc (NYSE:TT) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 765 shares of the company’s stock, valued at approximately $297,000.

Several other large investors also recently modified their holdings of TT. Duality Advisers LP purchased a new position in shares of Trane Technologies during the first quarter valued at approximately $331,000. Envestnet Portfolio Solutions Inc. lifted its position in shares of Trane Technologies by 9.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 9,920 shares of the company’s stock worth $2,978,000 after purchasing an additional 892 shares during the period. Empowered Funds LLC lifted its position in shares of Trane Technologies by 138.0% in the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock worth $2,001,000 after purchasing an additional 3,866 shares during the period. PFG Advisors bought a new stake in shares of Trane Technologies during the 1st quarter valued at about $243,000. Finally, Atomi Financial Group Inc. increased its position in shares of Trane Technologies by 4.0% during the first quarter. Atomi Financial Group Inc. now owns 1,474 shares of the company’s stock valued at $442,000 after buying an additional 57 shares during the period. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TT shares. Stephens reaffirmed an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Royal Bank of Canada lifted their price target on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. Wells Fargo & Company raised their price objective on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. The Goldman Sachs Group upped their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Mizuho upped their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $380.15.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $410.58 on Monday. The business has a 50-day simple moving average of $381.70 and a two-hundred day simple moving average of $349.64. 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 firm has a market cap of $92.39 billion, a price-to-earnings ratio of 38.09, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02. Trane Technologies plc has a fifty-two week low of $220.62 and a fifty-two week high of $413.74.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. Trane Technologies’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.79 earnings per share. On average, analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed 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 of this dividend is Friday, December 6th. Trane Technologies’s payout ratio is 31.17%.

Trane Technologies 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.