CWA Asset Management Group LLC Makes New Investment in Trane Technologies plc (NYSE:TT)

CWA Asset Management Group LLC acquired a new stake in shares of Trane Technologies plc (NYSE:TT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 993 shares of the company’s stock, valued at approximately $386,000.

Other large investors have also modified their holdings of the company. Empowered Funds LLC raised its position in shares of Trane Technologies by 138.0% in the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock worth $2,001,000 after buying an additional 3,866 shares during the period. Atomi Financial Group Inc. increased its position in Trane Technologies by 4.0% during the 1st quarter. Atomi Financial Group Inc. now owns 1,474 shares of the company’s stock worth $442,000 after purchasing an additional 57 shares in the last quarter. NorthRock Partners LLC lifted its position in Trane Technologies by 5.3% during the first quarter. NorthRock Partners LLC now owns 1,133 shares of the company’s stock valued at $340,000 after buying an additional 57 shares in the last quarter. Avantax Advisory Services Inc. grew its stake in Trane Technologies by 5.6% during the first quarter. Avantax Advisory Services Inc. now owns 7,748 shares of the company’s stock worth $2,326,000 after buying an additional 414 shares during the period. Finally, Bleakley Financial Group LLC increased its position in shares of Trane Technologies by 3.9% in the first quarter. Bleakley Financial Group LLC now owns 3,716 shares of the company’s stock worth $1,116,000 after acquiring an additional 139 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TT. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a report 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. Mizuho boosted their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. Finally, Barclays upped their target price on shares of Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and an average target price of $380.15.

Trane Technologies Trading Up 1.0 %

Shares of NYSE TT opened at $414.88 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average price is $382.76 and its two-hundred day moving average price is $350.45. Trane Technologies plc has a 52-week low of $221.22 and a 52-week high of $416.86. The stock has a market capitalization of $93.36 billion, a P/E ratio of 38.49, a PEG ratio of 2.60 and a beta of 1.02.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the business posted $2.79 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, analysts anticipate that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.81%. Trane Technologies’s dividend 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.