Morningstar Investment Management LLC Acquires 99 Shares of Trane Technologies plc (NYSE:TT)

Morningstar Investment Management LLC raised its stake in Trane Technologies plc (NYSE:TTFree Report) by 4.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,603 shares of the company’s stock after buying an additional 99 shares during the period. Morningstar Investment Management LLC’s holdings in Trane Technologies were worth $635,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BKM Wealth Management LLC acquired a new position in shares of Trane Technologies in the fourth quarter valued at approximately $25,000. Sachetta LLC acquired a new position in Trane Technologies in the 4th quarter worth $27,000. Motco bought a new position in Trane Technologies during the 4th quarter worth about $27,000. Gables Capital Management Inc. increased its holdings in Trane Technologies by 68.2% during the 4th quarter. Gables Capital Management Inc. now owns 185 shares of the company’s stock worth $45,000 after purchasing an additional 75 shares in the last quarter. Finally, Rosenberg Matthew Hamilton lifted its holdings in shares of Trane Technologies by 27.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TT shares. Mizuho increased their price objective on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. TD Cowen upped their price target on Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Robert W. Baird boosted their price objective on shares of Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company lifted their price target on shares of Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $309.79.

Get Our Latest Report on TT

Trane Technologies Stock Performance

Shares of NYSE:TT traded up $3.72 on Wednesday, reaching $323.25. 1,346,727 shares of the company’s stock were exchanged, compared to its average volume of 1,016,158. Trane Technologies plc has a twelve month low of $171.63 and a twelve month high of $338.09. The company has a fifty day moving average of $313.02 and a 200-day moving average of $277.49. The company has a market capitalization of $73.17 billion, a price-to-earnings ratio of 34.13, a PEG ratio of 2.56 and a beta of 1.01. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TTGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The business had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 earnings per share. On average, research analysts predict that Trane Technologies plc will post 10.46 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Friday, June 7th. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Trane Technologies Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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