Trane Technologies plc (NYSE:TT) Shares Acquired by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec increased its stake in Trane Technologies plc (NYSE:TT) by 35.3% in the third quarter, Holdings Channel reports. The institutional investor owned 86,464 shares of the company’s stock after acquiring an additional 22,576 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Trane Technologies were worth $33,611,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. bought a new position in Trane Technologies during the 3rd quarter worth approximately $27,000. DT Investment Partners LLC bought a new position in Trane Technologies during the third quarter worth $36,000. Pittenger & Anderson Inc. acquired a new position in Trane Technologies in the third quarter worth $39,000. Fortitude Family Office LLC increased its stake in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after purchasing an additional 43 shares during the last quarter. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Trane Technologies during the second quarter worth $39,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Barclays boosted their price objective on shares of Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group increased their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Stephens restated an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Robert W. Baird dropped their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Morgan Stanley began coverage on shares of Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $397.64.

Trane Technologies Trading Up 0.0 %

Shares of NYSE:TT opened at $416.22 on Monday. The company has a 50 day moving average of $398.01 and a 200-day moving average of $359.50. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. 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. Trane Technologies plc has a twelve month low of $221.22 and a twelve month high of $422.00.

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, beating analysts’ consensus estimates 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 analyst estimates of $5.32 billion. During the same period last year, the company posted $2.79 EPS. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, analysts anticipate that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is 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.