Metis Global Partners LLC Buys 55 Shares of Trane Technologies plc (NYSE:TT)

Metis Global Partners LLC boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 0.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,812 shares of the company’s stock after acquiring an additional 55 shares during the period. Metis Global Partners LLC’s holdings in Trane Technologies were worth $4,203,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. DT Investment Partners LLC bought a new position in Trane Technologies in the 3rd quarter valued at about $36,000. Pittenger & Anderson Inc. acquired a new position in Trane Technologies during the 3rd quarter worth approximately $39,000. Fortitude Family Office LLC boosted its holdings in shares of 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 acquiring an additional 43 shares in the last quarter. Triad Wealth Partners LLC bought a new position in Trane Technologies in the second quarter valued at about $39,000. Finally, Quarry LP bought a new position in Trane Technologies in the 2nd quarter valued at approximately $39,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Down 1.2 %

TT opened at $410.13 on Friday. The company’s 50-day moving average price is $385.43 and its two-hundred day moving average price is $351.65. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a twelve month low of $221.22 and a twelve month high of $421.78. The stock has a market cap of $92.29 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 2.63 and a beta of 1.02.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. The firm 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 business’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.79 earnings per share. As a group, equities analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TT. Wells Fargo & Company raised their target price on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Morgan Stanley initiated coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target for the company. Mizuho raised their price objective on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada raised 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 note on Thursday, August 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.