PDT Partners LLC Acquires Shares of 2,500 Trane Technologies plc (NYSE:TT)

PDT Partners LLC bought a new position in shares of Trane Technologies plc (NYSE:TT) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 also recently made changes to their positions in the business. MidAtlantic Capital Management Inc. bought a new position in Trane Technologies in the 3rd quarter valued at about $27,000. DT Investment Partners LLC bought a new position in Trane Technologies in the third quarter valued at approximately $36,000. Fortitude Family Office LLC increased its stake in Trane Technologies by 63.2% in the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after acquiring an additional 43 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in Trane Technologies during the second quarter valued at approximately $39,000. Finally, Quarry LP bought a new stake in Trane Technologies during the second quarter worth $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Price Performance

Trane Technologies stock opened at $416.22 on Monday. The stock’s 50 day moving average is $398.01 and its 200 day moving average is $359.50. Trane Technologies plc has a one year low of $221.22 and a one year high of $422.00. The firm has a market cap of $93.66 billion, a P/E ratio of 38.61, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92.

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

Trane Technologies Dividend Announcement

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 $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Analyst Upgrades and Downgrades

TT has been the subject of several recent analyst reports. The Goldman Sachs Group upped their price objective on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. 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 note on Thursday, October 17th. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Barclays increased their price objective on shares of Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Stephens reaffirmed an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.