Trane Technologies plc $TT Shares Bought by Jones Financial Companies Lllp

Jones Financial Companies Lllp increased its position in Trane Technologies plc (NYSE:TT) by 20.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,393 shares of the company’s stock after buying an additional 1,427 shares during the period. Jones Financial Companies Lllp’s holdings in Trane Technologies were worth $3,487,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. United Community Bank grew its position in shares of Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after purchasing an additional 43 shares during the period. Arjuna Capital acquired a new stake in Trane Technologies in the 3rd quarter worth about $1,297,000. A4 Wealth Advisors LLC purchased a new stake in Trane Technologies in the 3rd quarter valued at about $1,512,000. Mediolanum International Funds Ltd increased its stake in shares of Trane Technologies by 26.4% during the 3rd quarter. Mediolanum International Funds Ltd now owns 44,319 shares of the company’s stock valued at $18,365,000 after acquiring an additional 9,269 shares during the last quarter. Finally, Lebenthal Global Advisors LLC lifted its holdings in shares of Trane Technologies by 22.3% during the 3rd quarter. Lebenthal Global Advisors LLC now owns 4,806 shares of the company’s stock worth $2,028,000 after acquiring an additional 876 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. UBS Group dropped their price target on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Citigroup upped their price objective on Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Morgan Stanley reduced their target price on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a research note on Monday, December 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $484.67.

Trane Technologies Price Performance

Shares of NYSE TT opened at $455.35 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The company has a market capitalization of $100.97 billion, a price-to-earnings ratio of 35.08, a PEG ratio of 2.39 and a beta of 1.21. The business has a 50-day moving average of $398.25 and a 200-day moving average of $414.57.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.Trane Technologies’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.61 EPS. On average, equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, March 6th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio is currently 28.97%.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.