Trane Technologies plc (NYSE:TT) Shares Acquired by Raymond James Trust N.A.

Raymond James Trust N.A. lifted its position in Trane Technologies plc (NYSE:TT) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,322 shares of the company’s stock after purchasing an additional 1,127 shares during the quarter. Raymond James Trust N.A.’s holdings in Trane Technologies were worth $8,289,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Trust Point Inc. boosted its holdings in shares of Trane Technologies by 3.1% in the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock valued at $349,000 after acquiring an additional 27 shares during the period. First Pacific Financial boosted its stake in Trane Technologies by 1.1% during the 3rd quarter. First Pacific Financial now owns 2,674 shares of the company’s stock worth $1,039,000 after purchasing an additional 28 shares during the period. Greenleaf Trust grew its position in Trane Technologies by 0.5% during the 3rd quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock worth $2,275,000 after purchasing an additional 29 shares during the last quarter. Lake Street Advisors Group LLC increased its stake in Trane Technologies by 1.6% in the third quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company’s stock valued at $737,000 after purchasing an additional 30 shares during the period. Finally, PFG Private Wealth Management LLC raised its holdings in shares of Trane Technologies by 4.7% in the second quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock valued at $232,000 after buying an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 1.0 %

Shares of NYSE TT opened at $415.39 on Friday. The stock has a market capitalization of $93.47 billion, a price-to-earnings ratio of 38.53, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $421.78. The firm has a 50-day moving average price of $392.96 and a 200 day moving average price of $355.44. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the previous year, the business earned $2.79 earnings per share. Trane Technologies’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities research analysts anticipate that Trane Technologies plc will post 11.14 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. UBS Group started coverage on Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price target on the stock. Stephens reissued an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Morgan Stanley assumed coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target for the company. Royal Bank of Canada boosted their price objective on shares of 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, Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and an average target price of $389.77.

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.