Advisors Asset Management Inc. Grows Position in Trane Technologies plc (NYSE:TT)

Advisors Asset Management Inc. raised its position in Trane Technologies plc (NYSE:TT) by 23.7% during the third quarter, HoldingsChannel.com reports. The firm owned 3,728 shares of the company’s stock after purchasing an additional 714 shares during the period. Advisors Asset Management Inc.’s holdings in Trane Technologies were worth $1,449,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of Trane Technologies in the third quarter worth approximately $27,000. DT Investment Partners LLC purchased a new stake in Trane Technologies in the third quarter worth $36,000. Pittenger & Anderson Inc. bought a new stake in shares of Trane Technologies during the third quarter worth $39,000. Fortitude Family Office LLC lifted 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 worth $37,000 after purchasing an additional 43 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new position in shares of Trane Technologies in the second quarter worth about $39,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 1.0 %

NYSE:TT opened at $413.32 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The stock has a market capitalization of $93.01 billion, a P/E ratio of 38.34, a P/E/G ratio of 2.64 and a beta of 1.02. The company’s 50-day simple moving average is $394.91 and its 200-day simple moving average is $357.06. Trane Technologies plc has a fifty-two week low of $221.22 and a fifty-two week high of $422.00.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the previous year, the company earned $2.79 earnings per share. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities analysts anticipate that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.81%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio is presently 31.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TT shares. Northcoast Research started coverage on shares of Trane Technologies in a research report on Friday. They issued a “buy” rating and a $500.00 price objective for the company. Mizuho increased their price objective on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company lifted their target price on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Royal Bank of Canada increased their price target on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Finally, UBS Group assumed coverage on Trane Technologies in a report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $397.64.

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.