Pathstone Holdings LLC Raises Stock Holdings in Trane Technologies plc (NYSE:TT)

Pathstone Holdings LLC grew its position in Trane Technologies plc (NYSE:TT - Free Report) by 9.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,808 shares of the company's stock after purchasing an additional 3,766 shares during the quarter. Pathstone Holdings LLC's holdings in Trane Technologies were worth $16,252,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TT. MidAtlantic Capital Management Inc. acquired a new stake in Trane Technologies in the 3rd quarter valued at about $27,000. DT Investment Partners LLC bought a new position in shares of Trane Technologies during the third quarter worth approximately $36,000. Fortitude Family Office LLC boosted its stake in shares of 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 buying an additional 43 shares during the period. Triad Wealth Partners LLC bought a new position in Trane Technologies in the second quarter valued at approximately $39,000. Finally, Quarry LP bought a new stake in shares of Trane Technologies during the second quarter worth $39,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Stock Performance

TT stock traded down $1.87 during midday trading on Wednesday, reaching $411.16. 802,174 shares of the company's stock traded hands, compared to its average volume of 1,112,751. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $421.78. The company has a 50-day moving average price of $390.71 and a two-hundred day moving average price of $354.63. 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 capitalization of $92.52 billion, a PE ratio of 38.32, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.23 by $0.14. The firm 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 company's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.79 earnings per share. As a group, equities analysts anticipate that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Announces Dividend

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. This represents a $3.36 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies's payout ratio is currently 31.17%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TT shares. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the company an "underweight" rating in a research note on Monday, October 7th. Robert W. Baird lowered their price objective on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st. Hsbc Global Res lowered Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. Morgan Stanley assumed coverage on Trane Technologies in a report on Friday, September 6th. They issued an "overweight" rating and a $425.00 target price for the company. Finally, Mizuho increased their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $389.77.

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.