ABLE Financial Group LLC Purchases New Shares in Trane Technologies plc (NYSE:TT)

ABLE Financial Group LLC acquired a new stake in Trane Technologies plc (NYSE:TT) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 540 shares of the company’s stock, valued at approximately $210,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its stake in shares of Trane Technologies by 35,914.4% in the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after purchasing an additional 1,640,569 shares in the last quarter. Swedbank AB purchased a new stake in shares of Trane Technologies in the first quarter worth about $206,211,000. 1832 Asset Management L.P. boosted its position in shares of Trane Technologies by 7,363.1% in the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock valued at $139,067,000 after acquiring an additional 417,120 shares during the period. TD Asset Management Inc boosted its holdings in Trane Technologies by 41.2% in the 1st quarter. TD Asset Management Inc now owns 1,060,632 shares of the company’s stock valued at $318,402,000 after purchasing an additional 309,738 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in Trane Technologies by 162.7% during the second quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock valued at $147,263,000 after buying an additional 277,274 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Stephens reiterated an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Royal Bank of Canada raised their price target on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a report on Thursday, October 31st. Finally, Wells Fargo & Company raised their price objective on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $380.15.

Trane Technologies Price Performance

Shares of TT stock opened at $410.58 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The stock has a market cap of $92.39 billion, a price-to-earnings ratio of 38.09, a PEG ratio of 2.48 and a beta of 1.02. The business’s fifty day moving average is $380.72 and its 200 day moving average is $348.06. Trane Technologies plc has a twelve month low of $220.62 and a twelve month high of $413.74.

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. Research analysts expect that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is 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.