Plato Investment Management Ltd Sells 1,473 Shares of Trane Technologies plc $TT

Plato Investment Management Ltd decreased its holdings in Trane Technologies plc (NYSE:TT) by 13.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 9,719 shares of the company’s stock after selling 1,473 shares during the quarter. Plato Investment Management Ltd’s holdings in Trane Technologies were worth $4,070,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TT. Lowe Brockenbrough & Co. Inc. raised its stake in shares of Trane Technologies by 1.7% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 25,380 shares of the company’s stock worth $10,709,000 after purchasing an additional 421 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Trane Technologies by 75.8% during the third quarter. Smartleaf Asset Management LLC now owns 2,095 shares of the company’s stock worth $868,000 after buying an additional 903 shares in the last quarter. Ironwood Investment Counsel LLC grew its holdings in Trane Technologies by 2.4% during the third quarter. Ironwood Investment Counsel LLC now owns 1,732 shares of the company’s stock worth $731,000 after buying an additional 40 shares in the last quarter. Guinness Atkinson Asset Management Inc purchased a new stake in Trane Technologies in the 3rd quarter valued at $895,000. Finally, Guinness Asset Management LTD bought a new position in Trane Technologies during the 3rd quarter valued at $13,829,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on TT. Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price for the company in a report on Wednesday, January 7th. Barclays increased their price objective on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Royal Bank Of Canada upped their target price on Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Finally, Citigroup boosted their price objective on Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $484.67.

Trane Technologies Price Performance

Shares of NYSE TT opened at $455.35 on Friday. The stock has a fifty day simple moving average of $398.25 and a two-hundred day simple moving average of $414.57. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The firm has a market cap of $100.97 billion, a price-to-earnings ratio of 35.08, a price-to-earnings-growth ratio of 2.39 and a beta of 1.21. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter in the prior year, the firm earned $2.61 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. Analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a dividend of $1.05 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, March 6th. Trane Technologies’s dividend payout ratio (DPR) is 28.97%.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.