American Trust Takes Position in Trane Technologies plc (NYSE:TT)

American Trust purchased a new position in Trane Technologies plc (NYSE:TT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 680 shares of the company’s stock, valued at approximately $264,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Albar Capital Ltd bought a new position in Trane Technologies in the 2nd quarter valued at about $14,556,000. GDS Wealth Management boosted its position in shares of Trane Technologies by 4.3% during the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after acquiring an additional 2,124 shares in the last quarter. King Wealth Management Group bought a new position in Trane Technologies in the third quarter valued at approximately $1,879,000. Gradient Investments LLC increased its stake in Trane Technologies by 7,988.0% in the second quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock valued at $665,000 after acquiring an additional 1,997 shares during the last quarter. Finally, World Investment Advisors LLC raised its position in Trane Technologies by 5,253.1% during the third quarter. World Investment Advisors LLC now owns 34,581 shares of the company’s stock valued at $13,443,000 after purchasing an additional 33,935 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.0 %

TT opened at $399.54 on Friday. The company’s 50 day moving average price is $402.05 and its two-hundred day moving average price is $364.28. The firm has a market capitalization of $89.91 billion, a price-to-earnings ratio of 37.06, a PEG ratio of 2.43 and a beta of 1.03. Trane Technologies plc has a fifty-two week low of $233.76 and a fifty-two week high of $422.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data 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. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $2.79 earnings per share. As a group, research analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.84%. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays lifted their price target on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Morgan Stanley assumed coverage on Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price on the stock. 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 note on Thursday, October 31st. UBS Group started coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $409.93.

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.