Trane Technologies plc (NYSE:TT) Stake Raised by Maxwell Wealth Strategies Inc.

Maxwell Wealth Strategies Inc. lifted its stake in Trane Technologies plc (NYSE:TT - Free Report) by 21.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,313 shares of the company's stock after purchasing an additional 2,540 shares during the period. Trane Technologies comprises about 2.4% of Maxwell Wealth Strategies Inc.'s holdings, making the stock its 10th largest holding. Maxwell Wealth Strategies Inc.'s holdings in Trane Technologies were worth $5,586,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Natixis Advisors LLC lifted its position in shares of Trane Technologies by 4.1% during the 3rd quarter. Natixis Advisors LLC now owns 135,475 shares of the company's stock worth $52,663,000 after purchasing an additional 5,380 shares during the last quarter. Northeast Financial Group Inc. purchased a new stake in Trane Technologies during the 3rd quarter worth about $234,000. Empowered Funds LLC increased its holdings in shares of Trane Technologies by 2.2% in the 3rd quarter. Empowered Funds LLC now owns 21,034 shares of the company's stock valued at $8,177,000 after acquiring an additional 443 shares during the last quarter. King Wealth Management Group purchased a new stake in Trane Technologies during the third quarter worth approximately $1,879,000. Finally, CIBC Asset Management Inc boosted its holdings in Trane Technologies by 8.0% in the third quarter. CIBC Asset Management Inc now owns 32,942 shares of the company's stock valued at $12,806,000 after purchasing an additional 2,452 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TT shares. UBS Group initiated coverage on shares of Trane Technologies in a research report on Wednesday. They set a "buy" rating and a $500.00 price objective for the company. Morgan Stanley started coverage on Trane Technologies in a research report on Friday, September 6th. They issued an "overweight" rating and a $425.00 target price for the company. HSBC lowered Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 price target on the stock. in a research report on Thursday, October 31st. Royal Bank of Canada raised their target price on shares of 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, Hsbc Global Res cut shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $389.77.

Trane Technologies Price Performance

NYSE:TT traded down $2.63 during trading hours on Friday, hitting $407.49. The company's stock had a trading volume of 958,479 shares, compared to its average volume of 1,116,585. 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 quick ratio of 0.92 and a current ratio of 1.22. The business's 50-day moving average is $388.09 and its two-hundred day moving average is $352.80. The company has a market capitalization of $91.69 billion, a PE ratio of 37.81, a PEG ratio of 2.63 and a beta of 1.02.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data 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 net margin of 12.73% and a return on equity of 34.62%. The firm had revenue of $5.44 billion during the quarter, compared to analysts' expectations of $5.32 billion. During the same quarter last year, the business earned $2.79 earnings per share. The business's revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, research analysts anticipate that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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 of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.82%. 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.