Montecito Bank & Trust raised its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 25.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,068 shares of the company's stock after purchasing an additional 1,622 shares during the quarter. Montecito Bank & Trust's holdings in Trane Technologies were worth $3,136,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of TT. Norden Group LLC bought a new position in Trane Technologies during the 1st quarter valued at about $646,000. SPC Financial Inc. bought a new position in Trane Technologies in the 1st quarter valued at $209,000. Advisory Alpha LLC acquired a new position in Trane Technologies in the first quarter worth $201,000. Manchester Capital Management LLC increased its stake in shares of Trane Technologies by 102.7% in the first quarter. Manchester Capital Management LLC now owns 1,423 shares of the company's stock valued at $427,000 after buying an additional 721 shares in the last quarter. Finally, Duality Advisers LP bought a new position in shares of Trane Technologies in the first quarter valued at about $331,000. 82.97% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
TT has been the subject of several research reports. HSBC cut shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 price objective for the company. in a research report on Thursday, October 31st. Mizuho boosted their target price on Trane Technologies from $325.00 to $400.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. The Goldman Sachs Group raised their price target on Trane Technologies from $364.00 to $407.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. Robert W. Baird cut their target price on shares of Trane Technologies from $408.00 to $404.00 and set a "neutral" rating on the stock in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lifted their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $380.15.
Check Out Our Latest Report on TT
Trane Technologies Stock Up 1.1 %
NYSE TT traded up $4.28 during trading hours on Thursday, reaching $396.14. 653,616 shares of the company's stock were exchanged, compared to its average volume of 1,111,005. 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 company has a market capitalization of $89.14 billion, a price-to-earnings ratio of 36.56, a price-to-earnings-growth ratio of 2.39 and a beta of 1.02. The company's 50-day moving average is $379.90 and its two-hundred day moving average is $347.73. Trane Technologies plc has a one year low of $219.68 and a one year high of $406.96.
Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm's revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.79 earnings per share. On average, analysts forecast that Trane Technologies plc will post 11.13 EPS for the current fiscal 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 of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. Trane Technologies's payout ratio is presently 31.17%.
Trane Technologies Profile
(
Free Report)
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.
See Also
Before you consider Trane Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Trane Technologies wasn't on the list.
While Trane Technologies currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
