Aigen Investment Management LP Boosts Position in Trane Technologies plc (NYSE:TT)

Aigen Investment Management LP raised its stake in shares of Trane Technologies plc (NYSE:TT) by 73.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,560 shares of the company’s stock after buying an additional 659 shares during the quarter. Aigen Investment Management LP’s holdings in Trane Technologies were worth $606,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. DT Investment Partners LLC purchased a new position in shares of Trane Technologies during the third quarter worth about $36,000. Fortitude Family Office LLC grew its holdings in shares of Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after purchasing an additional 43 shares in the last quarter. Triad Wealth Partners LLC purchased a new position in shares of Trane Technologies during the second quarter worth about $39,000. Quarry LP purchased a new position in shares of Trane Technologies during the second quarter worth about $39,000. Finally, Pittenger & Anderson Inc. purchased a new position in shares of Trane Technologies during the third quarter worth about $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $414.94 on Thursday. 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 plc has a fifty-two week low of $221.22 and a fifty-two week high of $421.78. The stock has a 50 day moving average price of $384.06 and a two-hundred day moving average price of $351.21. The company has a market capitalization of $93.37 billion, a P/E ratio of 38.49, a PEG ratio of 2.60 and a beta of 1.02.

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

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid 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 0.81%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Analysts Set New Price Targets

Several research analysts have recently commented on TT shares. The Goldman Sachs Group boosted their price objective on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a report on Thursday, October 31st. Barclays boosted their target price on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, UBS Group initiated coverage on Trane Technologies in a research report on Wednesday. They issued a “buy” rating and a $500.00 target price for the company. 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.