tru Independence LLC Purchases 35 Shares of Trane Technologies plc (NYSE:TT)

tru Independence LLC grew its stake in Trane Technologies plc (NYSE:TT) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 863 shares of the company’s stock after acquiring an additional 35 shares during the period. tru Independence LLC’s holdings in Trane Technologies were worth $335,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TT. Addison Advisors LLC grew its holdings in Trane Technologies by 4.9% during the third quarter. Addison Advisors LLC now owns 839 shares of the company’s stock valued at $326,000 after purchasing an additional 39 shares during the period. GDS Wealth Management boosted its holdings in shares of Trane Technologies by 4.3% in the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after buying an additional 2,124 shares during the period. Catalytic Wealth RIA LLC boosted its holdings in shares of Trane Technologies by 44.5% in the third quarter. Catalytic Wealth RIA LLC now owns 9,797 shares of the company’s stock valued at $3,808,000 after buying an additional 3,016 shares during the period. Peregrine Asset Advisers Inc. acquired a new position in shares of Trane Technologies in the third quarter valued at approximately $297,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Trane Technologies in the third quarter valued at approximately $84,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Performance

TT traded up $1.91 on Monday, reaching $412.49. The company had a trading volume of 59,345 shares, compared to its average volume of 1,109,640. The company’s fifty day moving average is $381.70 and its 200 day moving average is $349.64. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The stock has a market cap of $92.82 billion, a P/E ratio of 38.09, a P/E/G ratio of 2.60 and a beta of 1.02. Trane Technologies plc has a fifty-two week low of $221.22 and a fifty-two week high of $415.17.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the business earned $2.79 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 0.81%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 31.17%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Morgan Stanley began coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target for the company. Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a research report on Thursday, October 31st. The Goldman Sachs Group boosted their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Mizuho boosted their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $380.15.

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.