Independent Advisor Alliance Has $2.08 Million Holdings in Trane Technologies plc (NYSE:TT)

Independent Advisor Alliance increased its holdings in Trane Technologies plc (NYSE:TT) by 4.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,344 shares of the company’s stock after acquiring an additional 239 shares during the period. Independent Advisor Alliance’s holdings in Trane Technologies were worth $2,077,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. MidAtlantic Capital Management Inc. bought a new stake in Trane Technologies in the 3rd quarter worth about $27,000. DT Investment Partners LLC bought a new stake in Trane Technologies in the 3rd quarter worth about $36,000. Pittenger & Anderson Inc. bought a new stake in Trane Technologies in the 3rd quarter worth about $39,000. Fortitude Family Office LLC grew its position in Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after purchasing an additional 43 shares in the last quarter. Finally, Triad Wealth Partners LLC bought a new position in shares of Trane Technologies during the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT opened at $413.32 on Tuesday. Trane Technologies plc has a 1 year low of $221.22 and a 1 year high of $422.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The stock has a market capitalization of $93.01 billion, a PE ratio of 38.34, a P/E/G ratio of 2.64 and a beta of 1.02. The company’s 50 day simple moving average is $394.91 and its two-hundred day simple moving average is $357.06.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.79 EPS. Analysts predict that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 31.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TT shares. UBS Group started coverage on shares of Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price for the company. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Northcoast Research started coverage on shares of Trane Technologies in a research report on Friday. They set a “buy” rating and a $500.00 target price for the company. The Goldman Sachs Group increased their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company increased their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus target price of $397.64.

Trane Technologies Company 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.