Fiduciary Trust Co Boosts Holdings in Trane Technologies plc (NYSE:TT)

Fiduciary Trust Co raised its stake in shares of Trane Technologies plc (NYSE:TT) by 12.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,890 shares of the company’s stock after buying an additional 1,072 shares during the quarter. Fiduciary Trust Co’s holdings in Trane Technologies were worth $3,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of TT. B. Riley Wealth Advisors Inc. raised its holdings in shares of Trane Technologies by 10.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,501 shares of the company’s stock worth $1,051,000 after acquiring an additional 335 shares in the last quarter. Cetera Investment Advisers raised its stake in Trane Technologies by 359.8% during the first quarter. Cetera Investment Advisers now owns 53,323 shares of the company’s stock valued at $16,008,000 after purchasing an additional 41,727 shares in the last quarter. Cetera Advisors LLC grew its stake in shares of Trane Technologies by 85.0% in the 1st quarter. Cetera Advisors LLC now owns 14,142 shares of the company’s stock worth $4,245,000 after buying an additional 6,498 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Trane Technologies by 8.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 928 shares of the company’s stock worth $295,000 after buying an additional 72 shares during the last quarter. Finally, HM Payson & Co. raised its position in shares of Trane Technologies by 4.6% during the 1st quarter. HM Payson & Co. now owns 9,182 shares of the company’s stock valued at $2,756,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the subject of several analyst reports. Mizuho raised their price objective on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. 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. Morgan Stanley initiated coverage on shares of Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. Finally, Robert W. Baird dropped their target price 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $397.64.

Trane Technologies Price Performance

NYSE TT opened at $416.09 on Friday. The company has a market cap of $93.63 billion, a PE ratio of 38.60, a P/E/G ratio of 2.52 and a beta of 1.02. Trane Technologies plc has a 52-week low of $221.22 and a 52-week high of $422.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The firm’s 50 day moving average price is $397.38 and its 200-day moving average price is $358.48.

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 business had revenue of $5.44 billion for 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%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same period last year, the business posted $2.79 EPS. Sell-side analysts forecast that Trane Technologies plc will post 11.14 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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