Ashton Thomas Private Wealth LLC Raises Stock Position in Trane Technologies plc (NYSE:TT)

Ashton Thomas Private Wealth LLC grew its holdings in Trane Technologies plc (NYSE:TT) by 79.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,572 shares of the company’s stock after acquiring an additional 2,025 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Trane Technologies were worth $1,777,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. DT Investment Partners LLC purchased a new position in Trane Technologies in the 3rd quarter worth approximately $36,000. Fortitude Family Office LLC boosted its position in shares of 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 acquiring an additional 43 shares during the last quarter. Triad Wealth Partners LLC purchased a new position in Trane Technologies during the second quarter valued at $39,000. Quarry LP bought a new stake in Trane Technologies in the 2nd quarter valued at $39,000. Finally, Pittenger & Anderson Inc. purchased a new stake in Trane Technologies in the 3rd quarter worth $39,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.9 %

Shares of Trane Technologies stock opened at $411.22 on Wednesday. Trane Technologies plc has a 1 year low of $221.22 and a 1 year high of $416.86. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The stock has a market cap of $92.53 billion, a price-to-earnings ratio of 38.15, a PEG ratio of 2.63 and a beta of 1.02. The firm’s 50-day moving average is $382.76 and its two-hundred day moving average is $350.45.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm earned $2.79 earnings per share. As a group, research analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current fiscal 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 paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.82%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Wall Street Analyst Weigh In

TT has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price objective on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a report on Thursday, October 31st. Morgan Stanley began coverage on shares of Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 target price on the stock. Mizuho lifted their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird decreased their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $380.15.

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.