King Wealth Management Group Invests $1.88 Million in Trane Technologies plc (NYSE:TT)

King Wealth Management Group bought a new position in Trane Technologies plc (NYSE:TT - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,834 shares of the company's stock, valued at approximately $1,879,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Trust Point Inc. boosted its holdings in Trane Technologies by 3.1% in the third quarter. Trust Point Inc. now owns 897 shares of the company's stock valued at $349,000 after purchasing an additional 27 shares during the last quarter. First Pacific Financial boosted its holdings in Trane Technologies by 1.1% in the third quarter. First Pacific Financial now owns 2,674 shares of the company's stock valued at $1,039,000 after purchasing an additional 28 shares during the last quarter. Greenleaf Trust boosted its holdings in Trane Technologies by 0.5% in the third quarter. Greenleaf Trust now owns 5,852 shares of the company's stock valued at $2,275,000 after purchasing an additional 29 shares during the last quarter. Lake Street Advisors Group LLC boosted its holdings in Trane Technologies by 1.6% in the third quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company's stock valued at $737,000 after purchasing an additional 30 shares during the last quarter. Finally, PFG Private Wealth Management LLC boosted its holdings in Trane Technologies by 4.7% in the second quarter. PFG Private Wealth Management LLC now owns 706 shares of the company's stock valued at $232,000 after purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. UBS Group initiated coverage on Trane Technologies in a report on Wednesday. They issued a "buy" rating and a $500.00 price target for the company. HSBC downgraded Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 target price on the stock. in a report on Thursday, October 31st. Wells Fargo & Company increased their target price on Trane Technologies from $320.00 to $360.00 and gave the stock an "underweight" rating in a report on Monday, October 7th. Morgan Stanley initiated coverage on Trane Technologies in a report on Friday, September 6th. They set an "overweight" rating and a $425.00 target price on the stock. Finally, Mizuho increased their target price on Trane Technologies from $325.00 to $400.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $389.77.

Trane Technologies Stock Performance

TT traded down $2.63 during trading hours on Friday, hitting $407.49. The company's stock had a trading volume of 942,496 shares, compared to its average volume of 1,116,509. Trane Technologies plc has a fifty-two week low of $221.22 and a fifty-two week high of $421.78. 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 has a market capitalization of $91.69 billion, a PE ratio of 38.05, a PEG ratio of 2.63 and a beta of 1.02. The company has a 50-day simple moving average of $386.78 and a 200 day simple moving average of $352.06.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $5.32 billion. During the same period last year, the firm earned $2.79 EPS. The firm's revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts expect that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

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 given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies's dividend payout ratio (DPR) is presently 31.17%.

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.