Resurgent Financial Advisors LLC Raises Stake in Trane Technologies plc (NYSE:TT)

Resurgent Financial Advisors LLC boosted its holdings in shares of Trane Technologies plc (NYSE:TT) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,614 shares of the company’s stock after purchasing an additional 39 shares during the period. Resurgent Financial Advisors LLC’s holdings in Trane Technologies were worth $627,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Reynders McVeigh Capital Management LLC grew its position in Trane Technologies by 8.2% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 1,975 shares of the company’s stock worth $768,000 after purchasing an additional 150 shares during the last quarter. Polymer Capital Management HK LTD purchased a new stake in shares of Trane Technologies in the third quarter valued at about $917,000. IHT Wealth Management LLC boosted its holdings in shares of Trane Technologies by 55.3% in the third quarter. IHT Wealth Management LLC now owns 1,249 shares of the company’s stock valued at $485,000 after acquiring an additional 445 shares in the last quarter. Ingalls & Snyder LLC purchased a new stake in shares of Trane Technologies in the third quarter valued at about $232,000. Finally, Intrepid Capital Management Inc. purchased a new stake in shares of Trane Technologies in the third quarter valued at about $222,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Mizuho lifted their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Northcoast Research assumed coverage on shares of Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. Barclays boosted their price objective on shares of Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Robert W. Baird decreased their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $397.64.

Trane Technologies Stock Performance

NYSE:TT opened at $417.46 on Thursday. The firm has a 50 day simple moving average of $399.72 and a 200-day simple moving average of $361.12. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The firm has a market cap of $93.94 billion, a PE ratio of 38.73, a P/E/G ratio of 2.50 and a beta of 1.03. Trane Technologies plc has a 1-year low of $227.86 and a 1-year high of $422.00.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.79 earnings per share. On average, equities analysts expect that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, December 6th. 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.