Claro Advisors LLC Acquires New Position in Trane Technologies plc (NYSE:TT)

Claro Advisors LLC bought a new position in Trane Technologies plc (NYSE:TT) during the third quarter, Holdings Channel.com reports. The institutional investor bought 1,134 shares of the company’s stock, valued at approximately $441,000.

Other institutional investors have also bought and sold shares of the company. DT Investment Partners LLC acquired a new position in Trane Technologies in the third quarter valued at approximately $36,000. Fortitude Family Office LLC raised its position in Trane Technologies by 63.2% in the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after purchasing an additional 43 shares during the period. Triad Wealth Partners LLC acquired a new position in shares of Trane Technologies in the 2nd quarter valued at $39,000. Quarry LP purchased a new position in shares of Trane Technologies during the 2nd quarter worth $39,000. Finally, Pittenger & Anderson Inc. acquired a new stake in shares of Trane Technologies during the 3rd quarter worth about $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on TT shares. Stephens reaffirmed an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. Wells Fargo & Company lifted their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. UBS Group began coverage on Trane Technologies in a research note on Wednesday, November 13th. They set a “buy” rating and a $500.00 price target on the stock. The Goldman Sachs Group lifted their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Barclays increased their target price on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $389.77.

Trane Technologies Stock Up 0.5 %

Trane Technologies stock opened at $409.70 on Tuesday. The stock has a market capitalization of $92.19 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 2.58 and a beta of 1.02. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average of $389.37 and a two-hundred day moving average of $353.97. Trane Technologies plc has a twelve month low of $221.22 and a twelve month high of $421.78.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion for 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 in the previous year, the firm earned $2.79 earnings per share. As a group, research analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.82%. 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.