Entropy Technologies LP Grows Holdings in Trane Technologies plc (NYSE:TT)

Entropy Technologies LP lifted its stake in Trane Technologies plc (NYSE:TT - Free Report) by 32.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,538 shares of the company's stock after acquiring an additional 2,595 shares during the period. Entropy Technologies LP's holdings in Trane Technologies were worth $4,096,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TT. Empowered Funds LLC raised its position in Trane Technologies by 138.0% in the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company's stock valued at $2,001,000 after purchasing an additional 3,866 shares during the last quarter. Atomi Financial Group Inc. grew its stake in Trane Technologies by 4.0% in the first quarter. Atomi Financial Group Inc. now owns 1,474 shares of the company's stock valued at $442,000 after acquiring an additional 57 shares during the period. NorthRock Partners LLC grew its stake in Trane Technologies by 5.3% in the first quarter. NorthRock Partners LLC now owns 1,133 shares of the company's stock valued at $340,000 after acquiring an additional 57 shares during the period. Avantax Advisory Services Inc. grew its stake in Trane Technologies by 5.6% in the first quarter. Avantax Advisory Services Inc. now owns 7,748 shares of the company's stock valued at $2,326,000 after acquiring an additional 414 shares during the period. Finally, Bleakley Financial Group LLC boosted its position in shares of Trane Technologies by 3.9% during the first quarter. Bleakley Financial Group LLC now owns 3,716 shares of the company's stock worth $1,116,000 after buying an additional 139 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on TT shares. HSBC lowered Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 target price on the stock. in a report on Thursday, October 31st. Morgan Stanley started coverage on Trane Technologies in a research report on Friday, September 6th. They set an "overweight" rating and a $425.00 price target on the stock. Hsbc Global Res downgraded Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 31st. Stephens reiterated an "equal weight" rating and issued a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Finally, Royal Bank of Canada raised their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies has an average rating of "Hold" and an average price target of $380.15.

Trane Technologies Stock Performance

TT stock traded down $3.70 during midday trading on Tuesday, hitting $411.22. 1,417,242 shares of the stock traded hands, compared to its average volume of 1,118,275. The firm has a market cap of $92.53 billion, a P/E ratio of 38.49, a PEG ratio of 2.60 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. The stock's fifty day simple moving average is $382.76 and its 200-day simple moving average is $350.45. Trane Technologies plc has a 1-year low of $221.22 and a 1-year high of $416.86.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly 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 for 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 for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the firm posted $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 Dividend Announcement

The business 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. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.82%. 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.