Sigma Planning Corp Grows Position in Trane Technologies plc (NYSE:TT)

Sigma Planning Corp grew its position in shares of Trane Technologies plc (NYSE:TT) by 22.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,890 shares of the company’s stock after purchasing an additional 896 shares during the quarter. Sigma Planning Corp’s holdings in Trane Technologies were worth $1,901,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. DT Investment Partners LLC purchased a new stake in Trane Technologies in the 3rd quarter worth $36,000. Pittenger & Anderson Inc. purchased a new stake in shares of Trane Technologies during the third quarter worth about $39,000. Fortitude Family Office LLC lifted its stake in Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after buying an additional 43 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in Trane Technologies in the 2nd quarter worth about $39,000. Finally, Quarry LP purchased a new stake in Trane Technologies during the 2nd quarter worth approximately $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TT. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a research note on Thursday, October 31st. The Goldman Sachs Group upped their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird dropped their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, Royal Bank of Canada boosted their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $380.15.

Trane Technologies Price Performance

NYSE:TT opened at $414.88 on Tuesday. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $416.86. The stock’s fifty day moving average is $382.76 and its two-hundred day moving average is $350.45. The company has a market capitalization of $93.36 billion, a P/E ratio of 38.49, a P/E/G ratio of 2.60 and a beta of 1.02. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last posted its 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. 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 for the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the prior year, the company posted $2.79 earnings per share. Trane Technologies’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities analysts expect that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.81%. 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.