J.W. Cole Advisors Inc. Cuts Stock Holdings in Trane Technologies plc $TT

J.W. Cole Advisors Inc. reduced its position in Trane Technologies plc (NYSE:TT) by 23.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,887 shares of the company’s stock after selling 2,950 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Trane Technologies were worth $4,172,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in TT. Ethic Inc. grew its position in shares of Trane Technologies by 6.6% during the 2nd quarter. Ethic Inc. now owns 26,836 shares of the company’s stock worth $11,601,000 after buying an additional 1,672 shares during the period. Nordea Investment Management AB grew its holdings in Trane Technologies by 2.4% in the third quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock worth $1,051,049,000 after purchasing an additional 57,774 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Trane Technologies in the third quarter valued at $6,571,000. Boston Common Asset Management LLC acquired a new position in shares of Trane Technologies during the third quarter valued at about $9,546,000. Finally, Compass Wealth Management LLC boosted its position in shares of Trane Technologies by 3,785.4% during the 3rd quarter. Compass Wealth Management LLC now owns 27,198 shares of the company’s stock worth $11,476,000 after purchasing an additional 26,498 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 1.2%

Shares of TT stock opened at $436.06 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm has a market cap of $96.69 billion, a P/E ratio of 33.59, a PEG ratio of 2.32 and a beta of 1.21. The company has a 50 day moving average of $397.57 and a 200-day moving average of $414.71. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The business had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same period in the previous year, the business posted $2.61 EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. Sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors 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 dividend yield of 1.0%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date is Friday, March 6th. Trane Technologies’s dividend payout ratio (DPR) is 28.97%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. UBS Group reduced their price objective on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a report on Monday, January 5th. Royal Bank Of Canada boosted their target price on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Citigroup raised their price target on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, Melius Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $484.67.

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.