Glenmede Trust Co. NA Boosts Stock Position in Trane Technologies plc (NYSE:TT)

Glenmede Trust Co. NA increased its position in Trane Technologies plc (NYSE:TT) by 0.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 121,117 shares of the company’s stock after buying an additional 407 shares during the quarter. Glenmede Trust Co. NA’s holdings in Trane Technologies were worth $47,082,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TT. MidAtlantic Capital Management Inc. purchased a new stake in shares of Trane Technologies in the third quarter worth $27,000. DT Investment Partners LLC purchased a new stake in Trane Technologies in the 3rd quarter worth $36,000. Fortitude Family Office LLC raised its holdings in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after acquiring an additional 43 shares during the period. Triad Wealth Partners LLC purchased a new position in shares of Trane Technologies in the second quarter valued at about $39,000. Finally, Quarry LP bought a new position in shares of Trane Technologies in the second quarter worth about $39,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TT shares. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a report on Thursday, October 31st. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. UBS Group initiated coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price target on the stock. Robert W. Baird dropped their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Morgan Stanley assumed coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $397.64.

Trane Technologies Price Performance

Trane Technologies stock opened at $419.14 on Wednesday. The firm has a market capitalization of $94.31 billion, a PE ratio of 38.88, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. Trane Technologies plc has a 12-month low of $221.22 and a 12-month high of $422.00. The firm has a 50-day moving average price of $395.80 and a 200-day moving average price of $357.67. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last announced 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. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the previous year, the business earned $2.79 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, equities research analysts forecast that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio is presently 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.