Trane Technologies plc (NYSE:TT) is Maxwell Wealth Strategies Inc.’s 10th Largest Position

Maxwell Wealth Strategies Inc. grew its holdings in Trane Technologies plc (NYSE:TT) by 21.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,313 shares of the company’s stock after buying an additional 2,540 shares during the quarter. Trane Technologies comprises 2.4% of Maxwell Wealth Strategies Inc.’s investment portfolio, making the stock its 10th biggest holding. Maxwell Wealth Strategies Inc.’s holdings in Trane Technologies were worth $5,586,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TT. International Assets Investment Management LLC lifted its stake in shares of Trane Technologies by 35,914.4% in the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after purchasing an additional 1,640,569 shares during the period. Swedbank AB purchased a new position in Trane Technologies in the first quarter valued at about $206,211,000. 1832 Asset Management L.P. lifted its position in shares of Trane Technologies by 7,363.1% during the 2nd 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. boosted its stake in shares of Trane Technologies by 162.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock worth $147,263,000 after acquiring an additional 277,274 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of 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 acquiring an additional 214,855 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Trading Down 0.6 %

Shares of TT stock opened at $407.49 on Friday. Trane Technologies plc has a 1-year low of $221.22 and a 1-year high of $421.78. The firm’s 50-day simple moving average is $388.09 and its 200-day simple moving average is $352.80. The firm has a market cap of $91.69 billion, a P/E ratio of 37.81, 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 (NYSE:TT) last announced its quarterly earnings results 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 company 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%. Trane Technologies’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the business earned $2.79 EPS. As a group, equities analysts forecast that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

TT has been the subject of several research reports. Royal Bank of Canada lifted their price objective on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. Mizuho upped their target price on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company raised their price target on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Morgan Stanley initiated 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. Finally, Stephens reiterated an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.