Trane Technologies plc (NYSE:TT) Shares Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. raised its position in Trane Technologies plc (NYSE:TT) by 5.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,322 shares of the company’s stock after purchasing an additional 1,127 shares during the quarter. Raymond James Trust N.A.’s holdings in Trane Technologies were worth $8,289,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new stake in Trane Technologies during the third quarter worth $27,000. DT Investment Partners LLC purchased a new position in Trane Technologies during the third quarter worth about $36,000. Fortitude Family Office LLC increased 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 acquiring an additional 43 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of Trane Technologies in the 2nd quarter valued at approximately $39,000. Finally, Quarry LP acquired a new position in shares of Trane Technologies in the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of TT opened at $415.39 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The firm’s fifty day simple moving average is $392.96 and its 200-day simple moving average is $355.44. The firm has a market capitalization of $93.47 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 2.62 and a beta of 1.02. Trane Technologies plc has a twelve month low of $221.22 and a twelve month high of $421.78.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the previous year, the business earned $2.79 EPS. Trane Technologies’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities analysts forecast that Trane Technologies plc will post 11.14 EPS for the current fiscal 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 issued a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.81%. Trane Technologies’s payout ratio is currently 31.17%.

Analyst Ratings Changes

Several research firms recently weighed in on TT. Stephens reiterated an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. The Goldman Sachs Group boosted their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Wells Fargo & Company raised their target price on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a research report on Thursday, October 31st. Finally, Mizuho lifted their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $389.77.

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.