Cornerstone Advisors LLC Acquires 3,200 Shares of Trane Technologies plc (NYSE:TT)

Cornerstone Advisors LLC boosted its holdings in shares of Trane Technologies plc (NYSE:TT) by 45.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 10,300 shares of the company’s stock after acquiring an additional 3,200 shares during the period. Cornerstone Advisors LLC’s holdings in Trane Technologies were worth $4,004,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TT. International Assets Investment Management LLC grew its holdings in shares of Trane Technologies by 35,914.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after buying an additional 1,640,569 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of Trane Technologies by 1.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,438,515 shares of the company’s stock worth $559,194,000 after acquiring an additional 18,403 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Trane Technologies by 0.3% during the second quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock worth $357,043,000 after buying an additional 2,898 shares during the period. Raymond James & Associates raised its position in Trane Technologies by 3.1% in the 3rd quarter. Raymond James & Associates now owns 1,076,484 shares of the company’s stock valued at $418,462,000 after buying an additional 32,079 shares during the last quarter. Finally, Swedbank AB boosted its position in Trane Technologies by 2.8% during the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock worth $289,135,000 after acquiring an additional 20,400 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TT shares. 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. Robert W. Baird decreased their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. UBS Group initiated coverage on shares of Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price target on the stock. Mizuho upped their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company lifted their price target on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $389.77.

Trane Technologies Stock Performance

NYSE TT opened at $411.16 on Thursday. The stock has a market cap of $92.52 billion, a PE ratio of 38.14, a PEG ratio of 2.62 and a beta of 1.02. Trane Technologies plc has a fifty-two week low of $221.22 and a fifty-two week high of $421.78. 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 firm’s fifty day moving average price is $391.85 and its two-hundred day moving average price is $355.02.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $5.32 billion. During the same period last year, the company earned $2.79 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, equities analysts expect that Trane Technologies plc will post 11.14 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a $0.84 dividend. 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 presently 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.