Plato Investment Management Ltd Has $4.07 Million Stock Position in Trane Technologies plc $TT

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

Several other institutional investors also recently modified their holdings of TT. Lowe Brockenbrough & Co. Inc. increased its holdings in Trane Technologies by 1.7% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 25,380 shares of the company’s stock valued at $10,709,000 after purchasing an additional 421 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Trane Technologies by 75.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,095 shares of the company’s stock valued at $868,000 after buying an additional 903 shares during the last quarter. Ironwood Investment Counsel LLC grew its position in shares of Trane Technologies by 2.4% in the 3rd quarter. Ironwood Investment Counsel LLC now owns 1,732 shares of the company’s stock valued at $731,000 after buying an additional 40 shares during the last quarter. Guinness Atkinson Asset Management Inc acquired a new stake in shares of Trane Technologies in the third quarter valued at about $895,000. Finally, Guinness Asset Management LTD bought a new position in shares of Trane Technologies during the third quarter worth about $13,829,000. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

TT has been the subject of a number of recent analyst reports. KeyCorp raised shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price for the company in a research report on Monday, December 15th. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price for the company in a research note on Wednesday, January 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. Finally, UBS Group lowered their price objective on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average 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 firm has a market capitalization of $100.97 billion, a P/E ratio of 35.08, a P/E/G ratio of 2.39 and a beta of 1.21. The firm’s 50-day moving average price is $398.25 and its 200-day moving average price is $414.57. 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 plc has a 1-year low of $298.15 and a 1-year high of $476.18.

Trane Technologies (NYSE:TT) last issued its 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. The business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The firm’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.61 EPS. Equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

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

Trane Technologies Company 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.