Icon Wealth Advisors LLC Buys 3,251 Shares of Trane Technologies plc (NYSE:TT)

Icon Wealth Advisors LLC lifted its stake in Trane Technologies plc (NYSE:TT) by 172.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,132 shares of the company’s stock after buying an additional 3,251 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Trane Technologies were worth $1,995,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Trust N.A. lifted its position in Trane Technologies by 5.6% during the third quarter. Raymond James Trust N.A. now owns 21,322 shares of the company’s stock valued at $8,289,000 after buying an additional 1,127 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after acquiring an additional 671,691 shares during the period. Integrated Investment Consultants LLC boosted its stake in Trane Technologies by 61.9% during the third quarter. Integrated Investment Consultants LLC now owns 1,240 shares of the company’s stock worth $482,000 after acquiring an additional 474 shares in the last quarter. Trustmark National Bank Trust Department grew its holdings in Trane Technologies by 6.2% in the third quarter. Trustmark National Bank Trust Department now owns 4,739 shares of the company’s stock worth $1,842,000 after purchasing an additional 275 shares during the period. Finally, Cornerstone Advisors LLC increased its stake in shares of Trane Technologies by 45.1% during the third quarter. Cornerstone Advisors LLC now owns 10,300 shares of the company’s stock valued at $4,004,000 after purchasing an additional 3,200 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 0.5 %

NYSE:TT opened at $417.42 on Friday. The company has a market cap of $93.93 billion, a PE ratio of 38.72, a price-to-earnings-growth ratio of 2.63 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 company has a 50 day simple moving average of $394.03 and a two-hundred day simple moving average of $356.08. Trane Technologies plc has a 12 month low of $221.22 and a 12 month high of $421.78.

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

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Barclays lifted their price objective on Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a research report on Thursday, October 31st. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. The Goldman Sachs Group lifted their target price 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. Finally, Royal Bank of Canada upped their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $397.64.

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.