Banque Cantonale Vaudoise Boosts Stock Holdings in Trane Technologies plc (NYSE:TT)

Banque Cantonale Vaudoise increased its position in Trane Technologies plc (NYSE:TT) by 9.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,176 shares of the company’s stock after acquiring an additional 2,408 shares during the period. Banque Cantonale Vaudoise’s holdings in Trane Technologies were worth $11,342,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TT. MidAtlantic Capital Management Inc. bought a new stake in shares of Trane Technologies in the third quarter worth approximately $27,000. DT Investment Partners LLC bought a new stake in Trane Technologies in the 3rd quarter worth approximately $36,000. Fortitude Family Office LLC raised its stake in Trane Technologies by 63.2% during the 2nd 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 last quarter. Triad Wealth Partners LLC bought a new position in shares of Trane Technologies during the 2nd quarter valued at $39,000. Finally, Quarry LP purchased a new position in shares of Trane Technologies in the 2nd quarter worth $39,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TT. UBS Group started coverage on Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price objective for the company. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a research note on Thursday, October 31st. The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Stephens reiterated an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Finally, 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $389.77.

Trane Technologies Price Performance

NYSE:TT opened at $409.70 on Tuesday. The stock has a market cap 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 quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The business’s 50-day simple moving average is $389.37 and its two-hundred day simple moving average is $353.97. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $421.78.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping 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 company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the previous year, the firm earned $2.79 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. As a group, analysts forecast that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a dividend of $0.84 per share. 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 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.