Ascent Group LLC Increases Holdings in Trane Technologies plc (NYSE:TT)

Ascent Group LLC increased its position in Trane Technologies plc (NYSE:TT) by 0.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 12,666 shares of the company’s stock after purchasing an additional 97 shares during the period. Ascent Group LLC’s holdings in Trane Technologies were worth $4,924,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after acquiring an additional 397,537 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after buying an additional 671,691 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Trane Technologies by 0.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock valued at $832,691,000 after buying an additional 20,151 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Trane Technologies by 35,914.4% during 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 in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Trane Technologies by 1.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,438,515 shares of the company’s stock valued at $559,194,000 after buying an additional 18,403 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE:TT opened at $416.22 on Monday. The business has a 50 day moving average of $398.01 and a 200 day moving average of $359.50. The company has a market capitalization of $93.66 billion, a price-to-earnings ratio of 38.61, a PEG ratio of 2.52 and a beta of 1.02. Trane Technologies plc has a 1-year low of $221.22 and a 1-year high of $422.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.79 EPS. On average, sell-side analysts predict that Trane Technologies plc will post 11.14 earnings per share 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. 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 dividend on an annualized basis and a yield of 0.81%. Trane Technologies’s dividend payout ratio (DPR) is currently 31.17%.

Analysts Set New Price Targets

A number of research firms have weighed in on TT. Wells Fargo & Company lifted their target price on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Morgan Stanley began coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 target price for the company. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a research report on Thursday, October 31st. Stephens reiterated an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. Finally, Robert W. Baird dropped their price target 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.