Larson Financial Group LLC Grows Position in Trane Technologies plc (NYSE:TT)

Larson Financial Group LLC boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 5.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,174 shares of the company’s stock after acquiring an additional 59 shares during the period. Larson Financial Group LLC’s holdings in Trane Technologies were worth $456,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA boosted its position in shares of Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after acquiring an additional 671,691 shares during the last quarter. International Assets Investment Management LLC lifted its position in Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after purchasing an additional 1,640,569 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake 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 buying an additional 18,403 shares in the last quarter. Mackenzie Financial Corp increased its holdings 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 worth $357,043,000 after buying an additional 2,898 shares during the last quarter. Finally, Raymond James & Associates raised its position 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 buying an additional 32,079 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on TT shares. Stephens reiterated an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. The Goldman Sachs Group boosted their target price on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research note on Thursday, October 31st. Finally, Wells Fargo & Company increased their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus price target of $397.64.

Trane Technologies Price Performance

Trane Technologies stock opened at $413.32 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. The stock has a market cap of $93.01 billion, a price-to-earnings ratio of 38.34, a price-to-earnings-growth ratio of 2.64 and a beta of 1.02. The firm has a 50-day moving average of $394.91 and a two-hundred day moving average of $357.06. Trane Technologies plc has a 1 year low of $221.22 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. Trane Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.79 earnings per share. On average, research analysts forecast that Trane Technologies plc will post 11.14 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company 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 $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.81%. Trane Technologies’s payout ratio is currently 31.17%.

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.