Sigma Planning Corp Raises Stock Position in Trane Technologies plc (NYSE:TT)

Sigma Planning Corp increased its stake in shares of Trane Technologies plc (NYSE:TT) by 22.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,890 shares of the company’s stock after acquiring an additional 896 shares during the quarter. Sigma Planning Corp’s holdings in Trane Technologies were worth $1,901,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. DT Investment Partners LLC acquired a new stake in shares of Trane Technologies during the third quarter worth about $36,000. Pittenger & Anderson Inc. acquired a new position in Trane Technologies during the third quarter worth approximately $39,000. Fortitude Family Office LLC lifted its stake in Trane Technologies by 63.2% in the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after buying an additional 43 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of Trane Technologies in the second quarter valued at approximately $39,000. Finally, Quarry LP purchased a new position in shares of Trane Technologies during the second quarter worth approximately $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of recent research reports. Mizuho increased their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Stephens reiterated an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. Barclays boosted their price target on Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group increased their price objective on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company boosted their target price on Trane Technologies from $320.00 to $360.00 and gave the company 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 five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and a consensus target price of $380.15.

Trane Technologies Price Performance

Shares of NYSE TT opened at $414.88 on Tuesday. The company’s fifty day moving average is $382.76 and its two-hundred day moving average is $350.45. 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 has a market capitalization of $93.36 billion, a P/E ratio of 38.49, a PEG ratio of 2.60 and a beta of 1.02. Trane Technologies plc has a one year low of $221.22 and a one year high of $416.86.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the business posted $2.79 earnings per share. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts forecast that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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