Concurrent Investment Advisors LLC Acquires 668 Shares of Trane Technologies plc (NYSE:TT)

Concurrent Investment Advisors LLC increased its holdings in shares of Trane Technologies plc (NYSE:TT) by 7.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,114 shares of the company’s stock after acquiring an additional 668 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Trane Technologies were worth $3,543,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Catalina Capital Group LLC increased its position in Trane Technologies by 10.9% in the third quarter. Catalina Capital Group LLC now owns 895 shares of the company’s stock worth $348,000 after buying an additional 88 shares during the last quarter. Crestwood Advisors Group LLC grew its position in shares of Trane Technologies by 0.3% in the third quarter. Crestwood Advisors Group LLC now owns 26,627 shares of the company’s stock valued at $10,351,000 after purchasing an additional 70 shares in the last quarter. Pittenger & Anderson Inc. purchased a new position in Trane Technologies during the 3rd quarter valued at about $39,000. Amalgamated Bank increased its holdings in Trane Technologies by 9.4% during the 3rd quarter. Amalgamated Bank now owns 51,183 shares of the company’s stock worth $19,896,000 after acquiring an additional 4,406 shares during the period. Finally, World Equity Group Inc. purchased a new stake in shares of Trane Technologies in the third quarter worth $230,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

TT stock opened at $391.88 on Thursday. The firm’s 50-day moving average price is $379.11 and its two-hundred day moving average price is $347.42. Trane Technologies plc has a 12-month low of $214.35 and a 12-month high of $406.96. The stock has a market capitalization of $88.18 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 2.39 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.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. Trane Technologies’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.79 EPS. As a group, equities analysts predict that Trane Technologies plc will post 11.13 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. Shareholders 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 yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s payout ratio is currently 31.17%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Robert W. Baird dropped their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company increased their target price on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Stephens reiterated an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Finally, Morgan Stanley started coverage on Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $380.15.

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.