Catalytic Wealth RIA LLC Has $3.81 Million Stake in Trane Technologies plc (NYSE:TT)

Catalytic Wealth RIA LLC raised its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 44.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,797 shares of the company's stock after acquiring an additional 3,016 shares during the quarter. Catalytic Wealth RIA LLC's holdings in Trane Technologies were worth $3,808,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Peregrine Asset Advisers Inc. bought a new position in shares of Trane Technologies during the third quarter worth $297,000. Ashton Thomas Securities LLC bought a new stake in shares of Trane Technologies in the third quarter worth about $84,000. Crossmark Global Holdings Inc. raised its position in shares of Trane Technologies by 17.1% during the third quarter. Crossmark Global Holdings Inc. now owns 22,147 shares of the company's stock worth $8,609,000 after purchasing an additional 3,239 shares during the period. Sigma Planning Corp lifted its holdings in shares of Trane Technologies by 22.4% during the 3rd quarter. Sigma Planning Corp now owns 4,890 shares of the company's stock valued at $1,901,000 after purchasing an additional 896 shares in the last quarter. Finally, Covestor Ltd grew its position in shares of Trane Technologies by 131.7% in the 3rd quarter. Covestor Ltd now owns 475 shares of the company's stock valued at $185,000 after purchasing an additional 270 shares during the period. Institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on TT shares. The Goldman Sachs Group raised 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. Stephens reaffirmed an "equal weight" rating and issued a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. HSBC cut Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 target price for the company. in a report on Thursday, October 31st. Mizuho boosted their price target on Trane Technologies from $325.00 to $400.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada upped 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Trane Technologies currently has an average rating of "Hold" and a consensus price target of $380.15.

Trane Technologies Stock Performance

NYSE:TT traded up $2.89 during mid-day trading on Monday, hitting $413.47. The stock had a trading volume of 545,040 shares, compared to its average volume of 1,111,666. Trane Technologies plc has a twelve month low of $221.22 and a twelve month high of $416.86. 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 cap of $93.04 billion, a price-to-earnings ratio of 38.09, a PEG ratio of 2.60 and a beta of 1.02. The company's 50 day simple moving average is $381.70 and its 200 day simple moving average is $349.64.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.44 billion during the quarter, compared to analysts' expectations of $5.32 billion. During the same period last year, the firm posted $2.79 earnings per share. The business's revenue was up 10.0% on a year-over-year basis. On average, equities research analysts forecast that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies's dividend payout ratio 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.