4,834 Shares in Trane Technologies plc (NYSE:TT) Bought by King Wealth Management Group

King Wealth Management Group bought a new stake in Trane Technologies plc (NYSE:TT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,834 shares of the company’s stock, valued at approximately $1,879,000.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Trane Technologies by 0.9% in the first quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock valued at $5,670,032,000 after purchasing an additional 174,251 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Trane Technologies by 0.5% during the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock valued at $5,221,599,000 after acquiring an additional 80,536 shares during the period. International Assets Investment Management LLC boosted its position in shares of 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 in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Trane Technologies by 1.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,438,515 shares of the company’s stock valued at $559,194,000 after acquiring an additional 18,403 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in shares of Trane Technologies by 0.3% during the second quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock valued at $357,043,000 after buying an additional 2,898 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research note on Thursday, October 31st. Royal Bank of Canada raised their price objective 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. UBS Group began coverage on shares of Trane Technologies in a research note on Wednesday. They issued a “buy” rating and a $500.00 target price for the company. Morgan Stanley assumed coverage on shares of Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. Finally, The Goldman Sachs Group upped their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $389.77.

Trane Technologies Trading Down 1.2 %

Shares of TT stock opened at $410.13 on Friday. The company’s fifty day simple moving average is $386.78 and its two-hundred day simple moving average is $352.06. The stock has a market capitalization of $92.29 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 2.63 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies plc has a 1 year low of $221.22 and a 1 year high of $421.78.

Trane Technologies (NYSE:TT) last issued its quarterly 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. The firm had revenue of $5.44 billion for 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 business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.79 EPS. As a group, analysts anticipate that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.82%. Trane Technologies’s payout ratio is currently 31.17%.

Trane Technologies Company 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.