Ashton Thomas Private Wealth LLC Acquires 2,025 Shares of Trane Technologies plc (NYSE:TT)

Ashton Thomas Private Wealth LLC grew its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 79.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,572 shares of the company's stock after purchasing an additional 2,025 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in Trane Technologies were worth $1,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of TT. Albar Capital Ltd purchased a new position in shares of Trane Technologies in the second quarter worth $14,556,000. M&G Plc purchased a new position in shares of Trane Technologies in the 1st quarter valued at about $8,939,000. GDS Wealth Management lifted its position in shares of Trane Technologies by 4.3% during the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company's stock valued at $20,123,000 after acquiring an additional 2,124 shares during the period. Gradient Investments LLC grew its position in Trane Technologies by 7,988.0% during the second quarter. Gradient Investments LLC now owns 2,022 shares of the company's stock valued at $665,000 after acquiring an additional 1,997 shares during the period. Finally, Bessemer Group Inc. increased its holdings in shares of Trane Technologies by 29.2% in the 1st quarter. Bessemer Group Inc. now owns 53,255 shares of the company's stock worth $15,988,000 after acquiring an additional 12,045 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Stock Up 0.9 %

Shares of Trane Technologies stock traded up $3.80 during trading on Wednesday, reaching $414.94. The company's stock had a trading volume of 1,134,918 shares, compared to its average volume of 1,118,357. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The company has a market cap of $93.37 billion, a price-to-earnings ratio of 38.86, a P/E/G ratio of 2.60 and a beta of 1.02. The company has a 50-day simple moving average of $384.06 and a two-hundred day simple moving average of $351.21. Trane Technologies plc has a 1-year low of $221.22 and a 1-year high of $421.78.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company's revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.79 earnings per share. As a group, equities analysts forecast that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 annualized dividend and a dividend yield of 0.81%. Trane Technologies's dividend payout ratio is 31.17%.

Analysts Set New Price Targets

Several research analysts recently issued reports on TT shares. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. Royal Bank of Canada increased their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the company a "sector perform" rating in a research report on Thursday, August 1st. Robert W. Baird reduced their price target on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st. UBS Group started coverage on shares of Trane Technologies in a report on Wednesday. They issued a "buy" rating and a $500.00 price target on the stock. Finally, Barclays increased their target price on Trane Technologies from $425.00 to $440.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock 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.