Harbour Investments Inc. Has $358,000 Stake in Trane Technologies plc (NYSE:TT)

Harbour Investments Inc. boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 47.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 920 shares of the company’s stock after acquiring an additional 294 shares during the quarter. Harbour Investments Inc.’s holdings in Trane Technologies were worth $358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. DT Investment Partners LLC acquired a new stake in Trane Technologies during the 3rd quarter valued at $36,000. Pittenger & Anderson Inc. acquired a new stake in shares of Trane Technologies in the third quarter valued at $39,000. Fortitude Family Office LLC lifted its position in Trane Technologies by 63.2% during the 2nd 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. Triad Wealth Partners LLC bought a new stake in Trane Technologies during the 2nd quarter worth about $39,000. Finally, Quarry LP acquired a new stake in Trane Technologies in the 2nd quarter valued at about $39,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TT shares. Royal Bank of Canada upped their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. UBS Group started coverage on Trane Technologies in a research report on Wednesday. They issued a “buy” rating and a $500.00 price objective on the stock. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird lowered their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lifted their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $389.77.

Trane Technologies Price Performance

NYSE TT opened at $407.49 on Friday. Trane Technologies plc has a 12-month low of $221.22 and a 12-month high of $421.78. The firm’s 50 day moving average is $388.09 and its 200-day moving average is $353.05. The company has a market capitalization of $91.69 billion, a PE ratio of 37.80, a price-to-earnings-growth ratio of 2.63 and a beta of 1.02. 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 (NYSE:TT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.23 by $0.14. The firm had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.79 EPS. Equities research analysts anticipate that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

Trane Technologies 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.