Assetmark Inc. Boosts Stake in Trane Technologies plc (NYSE:TT)

Assetmark Inc. lifted its holdings in shares of Trane Technologies plc (NYSE:TT) by 1.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 18,801 shares of the company’s stock after acquiring an additional 327 shares during the quarter. Assetmark Inc.’s holdings in Trane Technologies were worth $7,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of TT. Verdence Capital Advisors LLC boosted its holdings in shares of Trane Technologies by 5.0% in the third quarter. Verdence Capital Advisors LLC now owns 1,362 shares of the company’s stock worth $529,000 after buying an additional 65 shares during the last quarter. SpiderRock Advisors LLC grew its position in shares of Trane Technologies by 9.4% during the 3rd quarter. SpiderRock Advisors LLC now owns 5,795 shares of the company’s stock valued at $2,253,000 after acquiring an additional 496 shares during the period. CWA Asset Management Group LLC purchased a new stake in shares of Trane Technologies in the 3rd quarter worth $386,000. Equitable Trust Co. bought a new position in Trane Technologies in the 3rd quarter worth $220,000. Finally, ABLE Financial Group LLC purchased a new position in Trane Technologies during the third quarter valued at $210,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Up 1.0 %

TT stock opened at $414.88 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $416.86. The stock has a market capitalization of $93.36 billion, a PE ratio of 38.49, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02. The firm has a 50 day moving average of $382.76 and a 200 day moving average of $350.45.

Trane Technologies (NYSE:TT) last released 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. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter last year, the business posted $2.79 EPS. The company’s revenue was up 10.0% on a year-over-year basis. Sell-side analysts forecast that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 dividend on an annualized basis and a yield of 0.81%. Trane Technologies’s payout ratio is 31.17%.

Wall Street Analysts Forecast Growth

TT has been the subject of several analyst reports. Robert W. Baird reduced their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Barclays increased their price target on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Wells Fargo & Company boosted their price objective on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Stephens reiterated an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research report on Monday, August 5th. Finally, Royal Bank of Canada boosted their price target on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $380.15.

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.