EULAV Asset Management Has $11.27 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

EULAV Asset Management grew its position in Trane Technologies plc (NYSE:TT) by 52.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,000 shares of the company’s stock after purchasing an additional 10,000 shares during the period. EULAV Asset Management’s holdings in Trane Technologies were worth $11,273,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC raised its holdings in shares of Trane Technologies by 14.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 17,459 shares of the company’s stock worth $5,241,000 after acquiring an additional 2,149 shares during the period. Bessemer Group Inc. raised its holdings in shares of Trane Technologies by 29.2% during the first quarter. Bessemer Group Inc. now owns 53,255 shares of the company’s stock worth $15,988,000 after acquiring an additional 12,045 shares during the period. Lake Street Advisors Group LLC raised its holdings in shares of Trane Technologies by 27.9% during the first quarter. Lake Street Advisors Group LLC now owns 1,742 shares of the company’s stock worth $523,000 after acquiring an additional 380 shares during the period. Crewe Advisors LLC acquired a new stake in Trane Technologies in the 1st quarter valued at $90,000. Finally, CreativeOne Wealth LLC acquired a new stake in Trane Technologies in the 1st quarter valued at $379,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

Shares of TT stock opened at $413.05 on Wednesday. The company has a market capitalization of $92.94 billion, a price-to-earnings ratio of 38.32, a PEG ratio of 2.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The company has a 50-day simple moving average of $390.71 and a 200 day simple moving average of $354.63. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $421.78.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the previous year, the company earned $2.79 EPS. The business’s revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts predict 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. Shareholders of record on Friday, December 6th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.81%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TT. Royal Bank of Canada lifted their price target 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. Mizuho lifted their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. UBS Group began coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price target on the stock. The Goldman Sachs Group lifted 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, Morgan Stanley assumed coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $389.77.

Trane Technologies Company Profile

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.