Alpha Family Trust Makes New Investment in Trane Technologies plc (NYSE:TT)

Alpha Family Trust bought a new position in shares of Trane Technologies plc (NYSE:TT) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 605 shares of the company’s stock, valued at approximately $235,000.

A number of other institutional investors have also recently added to or reduced their stakes in TT. Atlanta Consulting Group Advisors LLC bought a new stake in shares of Trane Technologies in the 3rd quarter valued at $206,000. GoalVest Advisory LLC boosted its stake in shares of Trane Technologies by 70.0% in the 3rd quarter. GoalVest Advisory LLC now owns 153 shares of the company’s stock valued at $59,000 after purchasing an additional 63 shares during the last quarter. Maxwell Wealth Strategies Inc. boosted its stake in shares of Trane Technologies by 21.6% in the 3rd quarter. Maxwell Wealth Strategies Inc. now owns 14,313 shares of the company’s stock valued at $5,586,000 after purchasing an additional 2,540 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of Trane Technologies by 4.1% in the 3rd quarter. Natixis Advisors LLC now owns 135,475 shares of the company’s stock valued at $52,663,000 after purchasing an additional 5,380 shares during the last quarter. Finally, Northeast Financial Group Inc. bought a new stake in shares of Trane Technologies in the 3rd quarter valued at $234,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Down 0.6 %

Trane Technologies stock opened at $407.49 on Friday. Trane Technologies plc has a 1-year low of $221.22 and a 1-year high of $421.78. The firm has a market capitalization of $91.69 billion, a price-to-earnings ratio of 37.80, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. The firm’s fifty day moving average price is $388.09 and its two-hundred day moving average price is $353.05. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share 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 company had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the firm earned $2.79 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. On average, equities research analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 dividend on an annualized basis and a yield of 0.82%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TT. Royal Bank of Canada boosted their target price 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. Barclays boosted their target price on shares of Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. UBS Group began coverage on shares of Trane Technologies in a research report on Wednesday. They set a “buy” rating and a $500.00 target price on the stock. Mizuho boosted their target price 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. Finally, Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $389.77.

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.