Strategy Asset Managers LLC Takes Position in Trane Technologies plc (NYSE:TT)

Strategy Asset Managers LLC purchased a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,531 shares of the company's stock, valued at approximately $984,000.

Other large investors also recently bought and sold shares of the company. Avior Wealth Management LLC raised its holdings in Trane Technologies by 18.2% in the third quarter. Avior Wealth Management LLC now owns 1,186 shares of the company's stock valued at $461,000 after acquiring an additional 183 shares in the last quarter. West Family Investments Inc. grew its stake in Trane Technologies by 17.2% in the third quarter. West Family Investments Inc. now owns 1,072 shares of the company's stock worth $417,000 after purchasing an additional 157 shares in the last quarter. Banque Cantonale Vaudoise increased its holdings in Trane Technologies by 9.0% in the third quarter. Banque Cantonale Vaudoise now owns 29,176 shares of the company's stock valued at $11,342,000 after buying an additional 2,408 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its stake in Trane Technologies by 4.5% during the third quarter. Fifth Third Wealth Advisors LLC now owns 7,089 shares of the company's stock valued at $2,756,000 after buying an additional 304 shares in the last quarter. Finally, Caprock Group LLC lifted its holdings in Trane Technologies by 36.3% during the 3rd quarter. Caprock Group LLC now owns 5,264 shares of the company's stock worth $2,046,000 after buying an additional 1,401 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Price Performance

Shares of Trane Technologies stock traded down $4.34 on Wednesday, hitting $408.69. The company had a trading volume of 415,489 shares, compared to its average volume of 1,110,875. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $421.78. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The company has a market cap of $91.96 billion, a PE ratio of 38.32, a PEG ratio of 2.58 and a beta of 1.02. The business has a 50-day simple moving average of $390.71 and a 200-day simple moving average of $354.63.

Trane Technologies (NYSE:TT - Get Free Report) last released its 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 firm 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. Trane Technologies's revenue was up 10.0% compared to the same quarter last year. Research analysts expect that Trane Technologies plc will post 11.13 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. Stockholders of record on Friday, December 6th will be given 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 dividend yield of 0.82%. Trane Technologies's dividend payout ratio (DPR) is presently 31.17%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TT. Mizuho upped their price target on Trane Technologies from $325.00 to $400.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. UBS Group assumed coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They issued a "buy" rating and a $500.00 price target for the company. Morgan Stanley initiated coverage on Trane Technologies in a research note on Friday, September 6th. They issued an "overweight" rating and a $425.00 target price for the company. 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, Wells Fargo & Company boosted their price objective on Trane Technologies from $320.00 to $360.00 and gave the company an "underweight" rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Trane Technologies currently has a consensus rating of "Hold" and an average target price 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.