Trane Technologies plc $TT Stake Boosted by Lido Advisors LLC

Lido Advisors LLC boosted its holdings in shares of Trane Technologies plc (NYSE:TT) by 16.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,856 shares of the company’s stock after buying an additional 5,235 shares during the quarter. Lido Advisors LLC’s holdings in Trane Technologies were worth $17,110,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Amundi lifted its position in shares of Trane Technologies by 47.8% in the first quarter. Amundi now owns 2,174,396 shares of the company’s stock valued at $906,158,000 after buying an additional 703,018 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Trane Technologies by 10.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,878,018 shares of the company’s stock worth $782,707,000 after acquiring an additional 180,537 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Trane Technologies by 3.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,035,241 shares of the company’s stock worth $431,347,000 after acquiring an additional 32,286 shares during the last quarter. Ninety One UK Ltd increased its holdings in shares of Trane Technologies by 0.4% during the 3rd quarter. Ninety One UK Ltd now owns 926,668 shares of the company’s stock worth $418,835,000 after acquiring an additional 3,624 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in Trane Technologies by 51.9% in the 1st quarter. California Public Employees Retirement System now owns 686,691 shares of the company’s stock valued at $286,172,000 after acquiring an additional 234,666 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Royal Bank Of Canada cut their price target on Trane Technologies from $502.00 to $486.00 and set a “sector perform” rating for the company in a report on Friday, October 30th. Wall Street Zen downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating in a report on Sunday. Deutsche Bank dropped their price objective on shares of Trane Technologies from $515.00 to $499.00 and set a “hold” rating on the stock in a research report on Wednesday, September 30th. Evercore raised their target price on shares of Trane Technologies from $560.00 to $565.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Argus set a $500.00 target price on shares of Trane Technologies in a research note on Friday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $532.21.

Insiders Place Their Bets

In other Trane Technologies news, CEO David Regnery sold 48,091 shares of the stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the transaction, the chief executive officer owned 96,951 shares in the company, valued at $46,536,480. This trade represents a 33.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by insiders.

Trane Technologies Price Performance

Trane Technologies stock opened at $424.68 on Thursday. The company has a market capitalization of $92.96 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 1.98 and a beta of 1.19. The company has a current ratio of 1.12, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $505.87. The stock’s 50 day moving average is $444.35 and its 200-day moving average is $454.94.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, October 29th. The company reported $4.86 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.12. The business had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $6.50 billion. Trane Technologies had a return on equity of 37.26% and a net margin of 13.56%. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the firm posted $3.88 EPS. Equities research analysts expect that Trane Technologies plc will post 15.29 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 4th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, December 4th. Trane Technologies’s dividend payout ratio is currently 29.66%.

Trane Technologies Profile

Trane Technologies plc is a global climate innovator that designs, manufactures, and services heating, ventilation, air conditioning, and refrigeration systems. Its products and services support commercial buildings, homes, and transportation applications, including temperature-controlled shipping. The company’s portfolio includes the Trane brand of HVAC systems and building services, as well as Thermo King equipment for transport refrigeration and climate control. It also offers building controls, energy-efficiency solutions, system maintenance, and related services.