Trane Technologies plc (NYSE:TT) Shares Acquired by Haverford Trust Co

Haverford Trust Co boosted its holdings in Trane Technologies plc (NYSE:TT) by 1.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,647 shares of the company’s stock after purchasing an additional 34 shares during the quarter. Haverford Trust Co’s holdings in Trane Technologies were worth $1,029,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Trust Point Inc. increased its position in shares of Trane Technologies by 3.1% during the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock worth $349,000 after purchasing an additional 27 shares in the last quarter. First Pacific Financial increased its position in Trane Technologies by 1.1% during the third quarter. First Pacific Financial now owns 2,674 shares of the company’s stock worth $1,039,000 after buying an additional 28 shares during the period. Greenleaf Trust lifted its stake in Trane Technologies by 0.5% in the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock valued at $2,275,000 after buying an additional 29 shares during the last quarter. Lake Street Advisors Group LLC boosted its holdings in shares of Trane Technologies by 1.6% in the third quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company’s stock valued at $737,000 after acquiring an additional 30 shares during the period. Finally, PFG Private Wealth Management LLC grew its position in shares of Trane Technologies by 4.7% during the second quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock worth $232,000 after acquiring an additional 32 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on TT. The Goldman Sachs Group upped their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Royal Bank of Canada upped their price target on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Morgan Stanley began coverage on shares of Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective for the company. Finally, HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus target price of $389.77.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $414.94 on Thursday. Trane Technologies plc has a one year low of $221.22 and a one year high of $421.78. The stock has a market cap of $93.37 billion, a PE ratio of 38.49, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02. The business’s fifty day moving average price is $384.06 and its two-hundred day moving average price is $351.21. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. The company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $2.79 EPS. On average, analysts forecast that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a $0.84 dividend. The ex-dividend date 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 presently 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.