Kingsview Wealth Management LLC Purchases 72 Shares of Trane Technologies plc (NYSE:TT)

Kingsview Wealth Management LLC grew its holdings in shares of Trane Technologies plc (NYSE:TT) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,590 shares of the company’s stock after buying an additional 72 shares during the period. Kingsview Wealth Management LLC’s holdings in Trane Technologies were worth $1,784,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TT shares. 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 target for the company. Royal Bank of Canada lifted their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a report on Thursday, October 31st. Robert W. Baird decreased their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Northcoast Research assumed coverage on Trane Technologies in a research note on Friday. They set a “buy” rating and a $500.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $397.64.

Trane Technologies Stock Performance

TT opened at $413.32 on Tuesday. Trane Technologies plc has a 12-month low of $221.22 and a 12-month high of $422.00. The company has a market cap of $93.01 billion, a price-to-earnings ratio of 38.34, a PEG ratio of 2.64 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’s 50 day moving average is $394.91 and its 200 day moving average is $357.06.

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

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a dividend of $0.84 per share. 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 payout ratio is currently 31.17%.

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.