Apollon Wealth Management LLC Boosts Stock Holdings in Trane Technologies plc (NYSE:TT)

Apollon Wealth Management LLC raised its position in shares of Trane Technologies plc (NYSE:TT) by 45.3% in the third quarter, Holdings Channel.com reports. The fund owned 8,630 shares of the company’s stock after acquiring an additional 2,691 shares during the quarter. Apollon Wealth Management LLC’s holdings in Trane Technologies were worth $3,355,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Albar Capital Ltd acquired a new position in Trane Technologies in the 2nd quarter valued at $14,556,000. M&G Plc acquired a new stake in shares of Trane Technologies in the first quarter valued at about $8,939,000. Gradient Investments LLC lifted its stake in shares of Trane Technologies by 7,988.0% in the second quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock worth $665,000 after buying an additional 1,997 shares in the last quarter. GDS Wealth Management boosted its position in Trane Technologies by 4.3% during the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after acquiring an additional 2,124 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in Trane Technologies by 29.2% during the 1st quarter. Bessemer Group Inc. now owns 53,255 shares of the company’s stock valued at $15,988,000 after acquiring an additional 12,045 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Trane Technologies stock opened at $411.22 on Wednesday. The company’s 50 day simple moving average is $382.76 and its 200-day simple 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. Trane Technologies plc has a 1 year low of $221.22 and a 1 year high of $416.86. The company has a market capitalization of $92.53 billion, a price-to-earnings ratio of 38.15, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping 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 company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the prior year, the firm earned $2.79 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. As a group, equities research analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

Analysts Set New Price Targets

TT has been the topic of several recent research reports. The Goldman Sachs Group boosted their target price on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Wells Fargo & Company lifted their price objective on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Royal Bank of Canada upped their target price on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average target price of $380.15.

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.