Captrust Financial Advisors Raises Position in Trane Technologies plc (NYSE:TT)

Captrust Financial Advisors increased its holdings in Trane Technologies plc (NYSE:TT) by 13.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,221 shares of the company’s stock after purchasing an additional 1,804 shares during the period. Captrust Financial Advisors’ holdings in Trane Technologies were worth $5,917,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. purchased a new position in Trane Technologies during the third quarter worth approximately $27,000. DT Investment Partners LLC acquired a new position in Trane Technologies in the third quarter valued at $36,000. Fortitude Family Office LLC grew its position in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after acquiring an additional 43 shares during the period. Triad Wealth Partners LLC acquired a new stake in Trane Technologies during the second quarter worth about $39,000. Finally, Quarry LP purchased a new position in shares of Trane Technologies in the 2nd quarter worth about $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Trading Down 0.4 %

Shares of TT opened at $414.61 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies plc has a one year low of $226.18 and a one year high of $422.00. The stock has a 50-day moving average price of $398.01 and a 200 day moving average price of $359.50. The company has a market capitalization of $93.30 billion, a P/E ratio of 38.46, a P/E/G ratio of 2.52 and a beta of 1.02.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The business 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 business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.79 earnings per share. Sell-side analysts forecast that Trane Technologies plc will post 11.14 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. Stockholders of record on Friday, December 6th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is currently 31.17%.

Analysts Set New Price Targets

TT has been the subject of a number of research reports. Barclays boosted their target price on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Wells Fargo & Company increased their price objective 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. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research note on Thursday, October 31st. Northcoast Research assumed coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target for the company. Finally, Morgan Stanley began coverage on Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $397.64.

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.