Acorn Wealth Advisors LLC Acquires New Holdings in Trane Technologies plc (NYSE:TT)

Acorn Wealth Advisors LLC bought a new position in shares of Trane Technologies plc (NYSE:TT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 516 shares of the company’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TT. MidAtlantic Capital Management Inc. bought a new stake in Trane Technologies during the third quarter valued at about $27,000. DT Investment Partners LLC purchased a new position in shares of Trane Technologies in the 3rd quarter worth approximately $36,000. Fortitude Family Office LLC raised its stake in shares of Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after acquiring an additional 43 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in Trane Technologies during the second quarter valued at approximately $39,000. Finally, Quarry LP acquired a new stake in Trane Technologies in the second quarter valued at approximately $39,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on TT shares. Northcoast Research initiated coverage on Trane Technologies in a report on Friday. They set a “buy” rating and a $500.00 price objective for the company. Royal Bank of Canada increased their price target 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 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 increased their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Stephens restated an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $397.64.

Trane Technologies Stock Performance

Shares of TT stock opened at $413.32 on Tuesday. The stock has a market cap of $93.01 billion, a PE ratio of 38.34, a price-to-earnings-growth ratio of 2.64 and a beta of 1.02. Trane Technologies plc has a 52-week low of $221.22 and a 52-week high of $422.00. The business has a 50-day simple moving average of $394.91 and a 200-day simple moving average of $357.06. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last released 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. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.79 EPS. On average, equities analysts expect that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Announces Dividend

The company 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 of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.81%. Trane Technologies’s dividend payout ratio (DPR) is currently 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.