598 Shares in Trane Technologies plc (NYSE:TT) Purchased by Tradition Wealth Management LLC

Tradition Wealth Management LLC acquired a new position in Trane Technologies plc (NYSE:TT) during the 3rd quarter, HoldingsChannel reports. The fund acquired 598 shares of the company’s stock, valued at approximately $232,000.

Several other institutional investors also recently bought and sold shares of the company. FMR LLC grew its holdings in shares of Trane Technologies by 4.0% during the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after buying an additional 397,537 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake 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 acquiring an additional 671,691 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Trane Technologies by 0.9% in 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 acquiring an additional 20,151 shares during the last quarter. International Assets Investment Management LLC lifted its stake in 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 worth $639,514,000 after purchasing an additional 1,640,569 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of 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 worth $559,194,000 after purchasing an additional 18,403 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Northcoast Research initiated coverage on Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective on the stock. Wells Fargo & Company boosted their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Mizuho raised their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. UBS Group initiated coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price on the stock. Finally, HSBC downgraded shares of 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $397.64.

Trane Technologies Price Performance

TT opened at $414.61 on Tuesday. The firm has a market cap of $93.30 billion, a price-to-earnings ratio of 38.46, a PEG ratio of 2.52 and a beta of 1.02. 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 stock’s 50-day moving average price is $398.01 and its 200 day moving average price is $359.50. Trane Technologies plc has a 12-month low of $226.18 and a 12-month high of $422.00.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business 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 earnings per share. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, sell-side analysts expect that Trane Technologies plc will post 11.14 earnings per share for the current year.

Trane Technologies Announces Dividend

The business 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 dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio is currently 31.17%.

Trane Technologies Company 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.