MidAtlantic Capital Management Inc. Buys Shares of 70 Trane Technologies plc (NYSE:TT)

MidAtlantic Capital Management Inc. bought a new position in shares of Trane Technologies plc (NYSE:TT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 70 shares of the company’s stock, valued at approximately $27,000.

Several other institutional investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its stake in Trane Technologies by 35,914.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after purchasing an additional 1,640,569 shares in the last quarter. Swedbank AB bought a new stake in Trane Technologies in the first quarter valued at approximately $206,211,000. 1832 Asset Management L.P. increased its position in shares of Trane Technologies by 7,363.1% in the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock valued at $139,067,000 after acquiring an additional 417,120 shares during the period. Point72 Asset Management L.P. increased its position in Trane Technologies by 162.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock valued at $147,263,000 after purchasing an additional 277,274 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Trane Technologies by 1,023.0% in the second quarter. Assenagon Asset Management S.A. now owns 235,858 shares of the company’s stock worth $77,581,000 after buying an additional 214,855 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Up 0.5 %

Shares of Trane Technologies stock opened at $409.70 on Tuesday. The firm’s 50-day moving average price is $389.37 and its 200 day moving average price is $353.97. Trane Technologies plc has a twelve month low of $221.22 and a twelve month high of $421.78. The firm has a market capitalization of $92.19 billion, a PE ratio of 38.01, a P/E/G ratio of 2.58 and a beta of 1.02. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.79 EPS. On average, sell-side analysts predict that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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 given a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.82%. Trane Technologies’s dividend payout ratio is presently 31.17%.

Analyst Upgrades and Downgrades

TT has been the subject of several recent analyst reports. Barclays lifted their target price on shares of Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research note on Thursday, October 31st. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird cut their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. One 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 stock. According to MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and an average price target of $389.77.

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.