Trane Technologies plc (NYSE:TT) Stock Holdings Increased by Ascent Group LLC

Ascent Group LLC lifted its position in Trane Technologies plc (NYSE:TT) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,666 shares of the company’s stock after acquiring 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 SEC filing.

Other institutional investors have also made changes to their positions in the company. Benjamin Edwards Inc. grew its position in Trane Technologies by 311,900.0% during the third quarter. Benjamin Edwards Inc. now owns 9,360 shares of the company’s stock valued at $3,639,000 after purchasing an additional 9,357 shares in the last quarter. B&L Asset Management LLC bought a new stake in Trane Technologies in the third quarter worth approximately $1,530,000. True Wealth Design LLC grew its position in Trane Technologies by 1,771.4% in the third quarter. True Wealth Design LLC now owns 131 shares of the company’s stock worth $51,000 after acquiring an additional 124 shares in the last quarter. Cobblestone Capital Advisors LLC NY grew its position in Trane Technologies by 1.8% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock worth $579,000 after acquiring an additional 27 shares in the last quarter. Finally, Tradition Wealth Management LLC bought a new stake in Trane Technologies in the third quarter worth approximately $232,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

Shares of TT stock opened at $416.22 on Monday. The business’s 50 day simple moving average is $398.01 and its 200 day simple moving average is $359.50. Trane Technologies plc has a one year low of $221.22 and a one year high of $422.00. The stock has a market capitalization of $93.66 billion, a PE ratio of 38.61, a PEG ratio of 2.52 and a beta of 1.02. 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 issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the previous year, the firm earned $2.79 earnings per share. The company’s revenue was up 10.0% compared to the same quarter last year. As a group, research analysts forecast that Trane Technologies plc will post 11.14 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a $0.84 dividend. 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%.

Analyst Ratings Changes

A number of analysts have recently weighed in on TT shares. Stephens restated an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. Northcoast Research initiated coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective for the company. Wells Fargo & Company upped their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. The Goldman Sachs Group upped their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $397.64.

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.