D.A. Davidson & CO. Raises Holdings in Trane Technologies plc (NYSE:TT)

D.A. Davidson & CO. grew its position in shares of Trane Technologies plc (NYSE:TT) by 23.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,177 shares of the company’s stock after buying an additional 1,544 shares during the period. D.A. Davidson & CO.’s holdings in Trane Technologies were worth $3,179,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Trust Point Inc. lifted its holdings in Trane Technologies by 3.1% during the 3rd quarter. Trust Point Inc. now owns 897 shares of the company’s stock worth $349,000 after purchasing an additional 27 shares in the last quarter. First Pacific Financial lifted its holdings in Trane Technologies by 1.1% during the 3rd quarter. First Pacific Financial now owns 2,674 shares of the company’s stock worth $1,039,000 after purchasing an additional 28 shares in the last quarter. Wescott Financial Advisory Group LLC lifted its holdings in Trane Technologies by 1.7% during the 3rd quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock worth $670,000 after purchasing an additional 28 shares in the last quarter. Greenleaf Trust lifted its holdings in Trane Technologies by 0.5% during the 3rd quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock worth $2,275,000 after purchasing an additional 29 shares in the last quarter. Finally, Lake Street Advisors Group LLC lifted its holdings in Trane Technologies by 1.6% during the 3rd quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company’s stock worth $737,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $416.09 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $93.63 billion, a PE ratio of 38.60, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The business’s 50-day moving average price is $397.38 and its 200-day moving average price is $358.48. Trane Technologies plc has a 12 month low of $221.22 and a 12 month high of $422.00.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) 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 business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the company earned $2.79 EPS. Trane Technologies’s revenue for the quarter was up 10.0% compared to the same quarter last year. Sell-side analysts forecast that Trane Technologies plc will post 11.14 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

TT has been the topic of a number of recent research reports. Stephens reissued an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. Wells Fargo & Company raised their price target on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Mizuho raised their price target on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Morgan Stanley assumed coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target on the stock. Finally, Northcoast Research assumed coverage on Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $397.64.

About Trane Technologies

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.