Concurrent Investment Advisors LLC Has $3.54 Million Stock Position in Trane Technologies plc (NYSE:TT)

Concurrent Investment Advisors LLC grew its holdings in Trane Technologies plc (NYSE:TT) by 7.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,114 shares of the company’s stock after purchasing an additional 668 shares during the period. Concurrent Investment Advisors LLC’s holdings in Trane Technologies were worth $3,543,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its stake in shares of Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after buying an additional 1,640,569 shares during the last quarter. Swedbank AB acquired a new position in Trane Technologies in the 1st quarter worth about $206,211,000. 1832 Asset Management L.P. raised its position in Trane Technologies by 7,363.1% in the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock valued at $139,067,000 after purchasing an additional 417,120 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Trane Technologies by 41.2% during the first quarter. TD Asset Management Inc now owns 1,060,632 shares of the company’s stock valued at $318,402,000 after purchasing an additional 309,738 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Trane Technologies by 162.7% during the second quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock worth $147,263,000 after purchasing an additional 277,274 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on TT. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Mizuho increased their price objective on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. Finally, Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and an average price target of $380.15.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $391.88 on Thursday. Trane Technologies plc has a twelve month low of $214.35 and a twelve month high of $406.96. The stock’s 50 day moving average is $379.11 and its 200-day moving average is $347.42. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $88.18 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 2.39 and a beta of 1.02.

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, 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 firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the company posted $2.79 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. Sell-side analysts forecast that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

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.