Kingsview Wealth Management LLC Buys 72 Shares of Trane Technologies plc (NYSE:TT)

Kingsview Wealth Management LLC boosted its holdings in shares of Trane Technologies plc (NYSE:TT) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,590 shares of the company’s stock after purchasing an additional 72 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Trane Technologies were worth $1,784,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in TT. MidAtlantic Capital Management Inc. bought a new stake in shares of Trane Technologies in the 3rd quarter worth about $27,000. DT Investment Partners LLC bought a new stake in Trane Technologies in the third quarter worth about $36,000. Fortitude Family Office LLC boosted its position in shares of Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after buying an additional 43 shares during the period. Triad Wealth Partners LLC bought a new position in shares of Trane Technologies during the second quarter valued at approximately $39,000. Finally, Quarry LP purchased a new stake in shares of Trane Technologies in the second quarter worth approximately $39,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TT shares. Northcoast Research assumed coverage on Trane Technologies in a report on Friday. They set a “buy” rating and a $500.00 price objective for the company. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. UBS Group initiated coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price target on the stock. Wells Fargo & Company boosted their price objective 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. Finally, 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 research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and a consensus price target of $397.64.

Trane Technologies Stock Down 1.0 %

NYSE:TT opened at $413.32 on Tuesday. The company’s 50-day simple moving average is $394.91 and its 200-day simple moving average is $357.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies plc has a fifty-two week low of $221.22 and a fifty-two week high of $422.00. The stock has a market capitalization of $93.01 billion, a P/E ratio of 38.34, a P/E/G ratio of 2.64 and a beta of 1.02.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. Trane Technologies’s revenue was up 10.0% compared to the same quarter last year. During the same period last year, the firm earned $2.79 earnings per share. On average, equities analysts anticipate that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm 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. This represents a $3.36 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) 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.