Marietta Wealth Management LLC raised its position in Trane Technologies plc (NYSE:TT – Get Rating) by 2.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,889 shares of the company’s stock after buying an additional 516 shares during the period. Marietta Wealth Management LLC’s holdings in Trane Technologies were worth $3,953,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Canton Hathaway LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at about $25,000. Arlington Partners LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at about $25,000. Bellevue Asset Management LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at about $36,000. Newbridge Financial Services Group Inc. grew its position in shares of Trane Technologies by 247.2% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 184 shares of the company’s stock valued at $37,000 after purchasing an additional 131 shares during the period. Finally, EverSource Wealth Advisors LLC acquired a new position in Trane Technologies during the fourth quarter worth about $37,000. 80.55% of the stock is owned by institutional investors.
Shares of TT opened at $124.15 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.31 and a debt-to-equity ratio of 0.75. Trane Technologies plc has a fifty-two week low of $120.64 and a fifty-two week high of $207.06. The company has a market cap of $29.03 billion, a P/E ratio of 20.66, a PEG ratio of 1.52 and a beta of 1.04. The firm’s 50 day moving average price is $137.33 and its 200 day moving average price is $158.70.
Trane Technologies (NYSE:TT – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.00 by $0.12. Trane Technologies had a net margin of 10.01% and a return on equity of 23.67%. The company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the business posted $1.01 EPS. The firm’s revenue was up 11.2% on a year-over-year basis. Research analysts forecast that Trane Technologies plc will post 7.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Thursday, September 1st. Trane Technologies’s payout ratio is 44.59%.
A number of research firms recently weighed in on TT. Citigroup lowered their price target on shares of Trane Technologies from $205.00 to $190.00 in a research report on Thursday, May 5th. Morgan Stanley lowered their price target on shares of Trane Technologies from $169.00 to $155.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 31st. The Goldman Sachs Group lowered their price target on shares of Trane Technologies from $180.00 to $157.00 and set a “neutral” rating on the stock in a research report on Thursday, April 7th. Credit Suisse Group lowered their price target on shares of Trane Technologies from $194.00 to $178.00 in a research report on Thursday, May 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Trane Technologies from $171.00 to $162.00 in a report on Thursday, May 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Trane Technologies has an average rating of “Hold” and an average target price of $178.71.
Trane Technologies Company Profile (Get Rating)
Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling, and servicing of solutions for heating, ventilation, air conditioning, and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.
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