JNBA Financial Advisors Boosts Stock Position in Trane Technologies plc (NYSE:TT)

JNBA Financial Advisors lifted its position in Trane Technologies plc (NYSE:TT) by 71.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 240 shares of the company’s stock after acquiring an additional 100 shares during the period. JNBA Financial Advisors’ holdings in Trane Technologies were worth $93,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after buying an additional 1,640,569 shares during the last quarter. Swedbank AB acquired a new position in Trane Technologies during the first quarter worth $206,211,000. 1832 Asset Management L.P. boosted its stake in Trane Technologies by 7,363.1% during the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock worth $139,067,000 after buying an additional 417,120 shares during the last quarter. TD Asset Management Inc boosted its stake in Trane Technologies by 41.2% during the first quarter. TD Asset Management Inc now owns 1,060,632 shares of the company’s stock worth $318,402,000 after buying an additional 309,738 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in Trane Technologies by 162.7% during the second quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock worth $147,263,000 after buying an additional 277,274 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TT. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a research note on Thursday, October 31st. Robert W. Baird lowered their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. The Goldman Sachs Group upped their price target 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, Wells Fargo & Company upped their price target on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $380.15.

Trane Technologies Price Performance

TT stock opened at $391.88 on Thursday. 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 market capitalization of $88.18 billion, a PE ratio of 36.35, a P/E/G ratio of 2.39 and a beta of 1.02. Trane Technologies plc has a 12-month low of $214.35 and a 12-month high of $406.96. The business’s fifty day moving average price is $379.11 and its 200 day moving average price is $347.42.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.79 EPS. On average, sell-side analysts anticipate that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.86%. Trane Technologies’s dividend payout ratio (DPR) is 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.