Fifth Third Wealth Advisors LLC Purchases 304 Shares of Trane Technologies plc (NYSE:TT)

Fifth Third Wealth Advisors LLC grew its position in shares of Trane Technologies plc (NYSE:TT) by 4.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,089 shares of the company’s stock after purchasing an additional 304 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Trane Technologies were worth $2,756,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TT. International Assets Investment Management LLC boosted its stake in Trane Technologies by 35,914.4% in 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 in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Trane Technologies by 1.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,438,515 shares of the company’s stock worth $559,194,000 after acquiring an additional 18,403 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Trane Technologies by 0.3% in the 2nd quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock valued at $357,043,000 after purchasing an additional 2,898 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Trane Technologies by 3.1% during the 3rd quarter. Raymond James & Associates now owns 1,076,484 shares of the company’s stock valued at $418,462,000 after purchasing an additional 32,079 shares during the last quarter. Finally, Swedbank AB raised its position in Trane Technologies by 2.8% in the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock worth $289,135,000 after purchasing an additional 20,400 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TT shares. Mizuho upped their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Stephens reaffirmed an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research report on Thursday, October 31st. Barclays lifted their target price on shares of Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Morgan Stanley began coverage on shares of Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $389.77.

Trane Technologies Price Performance

TT stock opened at $409.70 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies plc has a 1 year low of $221.22 and a 1 year high of $421.78. The firm has a 50-day moving average of $389.37 and a 200 day moving average of $353.97. The company has a market cap of $92.19 billion, a P/E ratio of 38.01, a PEG ratio of 2.58 and a beta of 1.02.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (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 firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the prior year, the company earned $2.79 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts forecast that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Trane Technologies 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.