Pinnacle Financial Partners Inc Has $1.83 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Pinnacle Financial Partners Inc grew its stake in Trane Technologies plc (NYSE:TT) by 11.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,709 shares of the company’s stock after purchasing an additional 485 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Trane Technologies were worth $1,831,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TT. International Assets Investment Management LLC lifted its holdings in Trane Technologies by 35,914.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after purchasing an additional 1,640,569 shares during the last quarter. Swedbank AB acquired a new stake in shares of Trane Technologies during the first quarter worth $206,211,000. 1832 Asset Management L.P. boosted its position in shares of Trane Technologies by 7,363.1% in the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock valued at $139,067,000 after acquiring an additional 417,120 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Trane Technologies by 162.7% in the second quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock valued at $147,263,000 after acquiring an additional 277,274 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Trane Technologies by 1,023.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 235,858 shares of the company’s stock worth $77,581,000 after purchasing an additional 214,855 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

TT has been the topic of several recent research reports. HSBC cut shares of 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. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. The Goldman Sachs Group raised their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Royal Bank of Canada boosted their price target on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Finally, Barclays increased their price objective on shares of Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. One investment 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 company currently has a consensus rating of “Hold” and an average price target of $389.77.

Trane Technologies Stock Up 0.9 %

Shares of NYSE:TT opened at $414.94 on Thursday. Trane Technologies plc has a 52-week low of $221.22 and a 52-week high of $421.78. The company has a market capitalization of $93.37 billion, a PE ratio of 38.49, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02. 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 fifty day moving average of $384.06 and a 200-day moving average of $351.21.

Trane Technologies (NYSE:TT) last issued 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 net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter last year, the business earned $2.79 EPS. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. On average, equities analysts predict that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 yield of 0.81%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio is currently 31.17%.

Trane Technologies 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.