Nwam LLC Purchases Shares of 13,628 Trane Technologies plc (NYSE:TT)

Nwam LLC acquired a new stake in shares of Trane Technologies plc (NYSE:TT) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 13,628 shares of the company’s stock, valued at approximately $5,298,000.

Several other hedge funds also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new position in Trane Technologies during the third quarter valued at $27,000. DT Investment Partners LLC bought a new position in shares of Trane Technologies during the 3rd quarter valued at approximately $36,000. Pittenger & Anderson Inc. bought a new stake in Trane Technologies in the third quarter worth $39,000. Fortitude Family Office LLC lifted its position in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after purchasing an additional 43 shares during the last quarter. Finally, Triad Wealth Partners LLC purchased a new position in shares of Trane Technologies in the 2nd quarter worth $39,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 1.0 %

Shares of NYSE:TT opened at $415.39 on Friday. 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 business’s 50 day moving average is $392.96 and its 200 day moving average is $355.44. The stock has a market cap of $93.47 billion, a P/E ratio of 38.53, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. Trane Technologies plc has a 52-week low of $221.22 and a 52-week high of $421.78.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating 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 analyst estimates of $5.32 billion. During the same quarter last year, the firm posted $2.79 earnings per share. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. Sell-side analysts predict that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Announces Dividend

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

Wall Street Analysts Forecast Growth

TT has been the subject of a number of analyst reports. Morgan Stanley started coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target for the company. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research report on Thursday, October 31st. Robert W. Baird lowered their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Mizuho boosted their price objective 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, Wells Fargo & Company raised their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $397.64.

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.