Independent Advisor Alliance Boosts Stake in Trane Technologies plc (NYSE:TT)

Independent Advisor Alliance lifted its holdings in shares of Trane Technologies plc (NYSE:TT) by 4.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,344 shares of the company’s stock after buying an additional 239 shares during the quarter. Independent Advisor Alliance’s holdings in Trane Technologies were worth $2,077,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TT. International Assets Investment Management LLC grew its holdings in shares of Trane Technologies by 35,914.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after purchasing an additional 1,640,569 shares during the last quarter. Swedbank AB bought a new position in shares of Trane Technologies during the 1st quarter valued at $206,211,000. Massachusetts Financial Services Co. MA grew its holdings in shares of 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 purchasing an additional 671,691 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Trane Technologies by 7,363.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock valued at $139,067,000 after purchasing an additional 417,120 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Trane Technologies by 162.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock valued at $147,263,000 after purchasing an additional 277,274 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on TT. Stephens reaffirmed an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Robert W. Baird cut their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Northcoast Research began coverage on shares of Trane Technologies in a report on Friday. They issued a “buy” rating and a $500.00 price target on the stock. Morgan Stanley began coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target on the stock. Finally, Royal Bank of Canada raised their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. One equities research 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $397.64.

Trane Technologies Trading Down 1.0 %

Shares of NYSE TT opened at $413.32 on Tuesday. Trane Technologies plc has a 1 year low of $221.22 and a 1 year high of $422.00. The stock has a market cap of $93.01 billion, a P/E ratio of 38.34, a price-to-earnings-growth ratio of 2.64 and a beta of 1.02. The firm has a 50-day moving average of $394.91 and a 200 day moving average of $357.06. 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 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 company had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the company posted $2.79 EPS. Trane Technologies’s revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts expect that Trane Technologies plc will post 11.14 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.81%. Trane Technologies’s dividend payout ratio (DPR) 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.