Alpha DNA Investment Management LLC Boosts Position in Trane Technologies plc (NYSE:TT)

Alpha DNA Investment Management LLC lifted its position in Trane Technologies plc (NYSE:TT) by 35.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,015 shares of the company’s stock after purchasing an additional 787 shares during the period. Alpha DNA Investment Management LLC’s holdings in Trane Technologies were worth $1,172,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in Trane Technologies in the 3rd quarter worth approximately $27,000. DT Investment Partners LLC purchased a new stake in shares of Trane Technologies in the third quarter worth $36,000. Pittenger & Anderson Inc. bought a new stake in Trane Technologies during the third quarter valued at $39,000. Fortitude Family Office LLC grew its position in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after buying an additional 43 shares in the last quarter. Finally, Triad Wealth Partners LLC bought a new position in Trane Technologies in the 2nd quarter worth about $39,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Trading Up 0.5 %

Shares of TT stock opened at $417.49 on Friday. The business has a 50-day moving average of $394.03 and a 200 day moving average of $356.29. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies plc has a 1-year low of $221.22 and a 1-year high of $421.78. The stock has a market capitalization of $93.94 billion, a PE ratio of 38.73, a P/E/G ratio of 2.63 and a beta of 1.02.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating 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 firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the prior year, the firm posted $2.79 earnings per share. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Trane Technologies plc will post 11.14 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed 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. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is 31.17%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TT. UBS Group assumed coverage on Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price objective for the company. Northcoast Research started coverage on shares of Trane Technologies in a report on Friday. They issued a “buy” rating and a $500.00 price target on the stock. Stephens reaffirmed an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. The Goldman Sachs Group upped their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Barclays raised their price target on Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $397.64.

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.