B&L Asset Management LLC Invests $1.53 Million in Trane Technologies plc (NYSE:TT)

B&L Asset Management LLC bought a new position in Trane Technologies plc (NYSE:TT) in the 3rd quarter, Holdings Channel.com reports. The fund bought 3,936 shares of the company’s stock, valued at approximately $1,530,000.

A number of other institutional investors have also bought and sold shares of TT. Albar Capital Ltd bought a new stake in shares of Trane Technologies during the second quarter valued at approximately $14,556,000. GDS Wealth Management increased its holdings in Trane Technologies by 4.3% in the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after acquiring an additional 2,124 shares during the last quarter. King Wealth Management Group bought a new stake in Trane Technologies in the 3rd quarter valued at $1,879,000. Gradient Investments LLC boosted its holdings in shares of Trane Technologies by 7,988.0% during the 2nd quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock valued at $665,000 after purchasing an additional 1,997 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in shares of Trane Technologies by 4.1% during the second quarter. QRG Capital Management Inc. now owns 39,475 shares of the company’s stock valued at $12,985,000 after purchasing an additional 1,554 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TT shares. The Goldman Sachs Group boosted their target price on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Mizuho upped their price objective on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research report on Thursday, October 31st. Morgan Stanley assumed coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target on the stock. Finally, Robert W. Baird dropped their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $397.64.

Trane Technologies Stock Performance

Trane Technologies stock opened at $416.22 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The firm has a market capitalization of $93.66 billion, a P/E ratio of 38.61, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. Trane Technologies plc has a 1-year low of $221.22 and a 1-year high of $422.00. The company’s 50-day moving average is $398.01 and its 200 day moving average is $359.31.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share 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 the consensus estimate of $5.32 billion. During the same period in the prior year, the business posted $2.79 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Research analysts forecast that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Announces Dividend

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