Aigen Investment Management LP Purchases 659 Shares of Trane Technologies plc (NYSE:TT)

Aigen Investment Management LP increased its position in Trane Technologies plc (NYSE:TT) by 73.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,560 shares of the company’s stock after purchasing an additional 659 shares during the period. Aigen Investment Management LP’s holdings in Trane Technologies were worth $606,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Albar Capital Ltd bought a new position in shares of Trane Technologies in the 2nd quarter worth $14,556,000. M&G Plc bought a new position in Trane Technologies during the 1st quarter valued at $8,939,000. GDS Wealth Management lifted its stake in Trane Technologies by 4.3% during the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after acquiring an additional 2,124 shares in the last quarter. Gradient Investments LLC lifted its stake in Trane Technologies by 7,988.0% during the 2nd quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock valued at $665,000 after acquiring an additional 1,997 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in Trane Technologies by 29.2% during the 1st quarter. Bessemer Group Inc. now owns 53,255 shares of the company’s stock valued at $15,988,000 after acquiring an additional 12,045 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Trading Up 0.9 %

Shares of TT opened at $414.94 on Thursday. The business has a 50-day moving average of $384.06 and a 200 day moving average of $351.21. Trane Technologies plc has a fifty-two week low of $221.22 and a fifty-two week high of $421.78. The firm has a market cap of $93.37 billion, a P/E ratio of 38.49, a price-to-earnings-growth ratio of 2.60 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.

Trane Technologies (NYSE:TT) last announced 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 return on equity of 34.62% and a net margin of 12.73%. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter last year, the firm posted $2.79 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, research analysts forecast that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is presently 31.17%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a research note on Thursday, October 31st. UBS Group assumed coverage on Trane Technologies in a research note on Wednesday. They set a “buy” rating and a $500.00 price objective on the stock. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird dropped their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Barclays lifted their target price on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and an average target price of $389.77.

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.