Empowered Funds LLC Acquires 443 Shares of Trane Technologies plc (NYSE:TT)

Empowered Funds LLC increased its holdings in shares of Trane Technologies plc (NYSE:TT) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,034 shares of the company’s stock after purchasing an additional 443 shares during the period. Empowered Funds LLC’s holdings in Trane Technologies were worth $8,177,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Trust Point Inc. lifted its stake in Trane Technologies by 3.1% in the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock valued at $349,000 after acquiring an additional 27 shares during the last quarter. First Pacific Financial lifted its position in Trane Technologies by 1.1% during the third quarter. First Pacific Financial now owns 2,674 shares of the company’s stock worth $1,039,000 after acquiring an additional 28 shares during the last quarter. Greenleaf Trust grew its position in shares of Trane Technologies by 0.5% in the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock valued at $2,275,000 after purchasing an additional 29 shares during the last quarter. Lake Street Advisors Group LLC increased its stake in shares of Trane Technologies by 1.6% during the third 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 during the period. Finally, PFG Private Wealth Management LLC grew its holdings in Trane Technologies by 4.7% in the 2nd quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock valued at $232,000 after buying an additional 32 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TT has been the topic of several recent analyst reports. Morgan Stanley initiated coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price on the stock. 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 report on Thursday, August 1st. Mizuho upped their target price on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research note on Thursday, October 31st. Finally, Stephens reissued an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $389.77.

Trane Technologies Price Performance

Trane Technologies stock opened at $407.60 on Friday. The firm has a market capitalization of $91.72 billion, a P/E ratio of 37.81, a PEG ratio of 2.63 and a beta of 1.02. Trane Technologies plc has a one year low of $221.22 and a one year high of $421.78. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The business has a fifty day moving average price of $388.09 and a 200-day moving average price of $352.80.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the prior year, the firm posted $2.79 EPS. Trane Technologies’s revenue was up 10.0% on a year-over-year basis. As a group, equities research analysts forecast that Trane Technologies plc will post 11.13 EPS 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 paid a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.82%. Trane Technologies’s dividend payout ratio is presently 31.17%.

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.