Essex Financial Services Inc. purchased a new position in shares of Trane Technologies plc (NYSE:TT) in the first quarter, according to its most recent filing with the SEC. The firm purchased 1,242 shares of the company’s stock, valued at approximately $206,000.
A number of other institutional investors have also modified their holdings of TT. First Trust Advisors LP grew its holdings in Trane Technologies by 40.6% during the 4th quarter. First Trust Advisors LP now owns 73,061 shares of the company’s stock worth $10,606,000 after acquiring an additional 21,085 shares during the period. M&G Investment Management Ltd. acquired a new stake in Trane Technologies during the 4th quarter worth about $406,000. GSA Capital Partners LLP acquired a new stake in Trane Technologies during the 4th quarter worth about $465,000. Clear Harbor Asset Management LLC grew its holdings in Trane Technologies by 24.2% during the 4th quarter. Clear Harbor Asset Management LLC now owns 3,850 shares of the company’s stock worth $559,000 after acquiring an additional 750 shares during the period. Finally, Maryland State Retirement & Pension System acquired a new stake in Trane Technologies during the 4th quarter worth about $547,000. Hedge funds and other institutional investors own 78.62% of the company’s stock.
Trane Technologies stock opened at $183.69 on Friday. Trane Technologies plc has a 52 week low of $84.17 and a 52 week high of $189.93. The business’s 50 day moving average price is $177.47. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.26 and a current ratio of 1.59. The company has a market cap of $43.93 billion, a PE ratio of 39.85, a P/E/G ratio of 1.39 and a beta of 0.93.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Friday, September 3rd will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, September 2nd. This represents a $2.36 annualized dividend and a dividend yield of 1.28%. Trane Technologies’s dividend payout ratio is currently 52.91%.
TT has been the subject of several research reports. Credit Suisse Group raised their target price on Trane Technologies from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, May 6th. Zacks Investment Research upgraded Trane Technologies from a “hold” rating to a “buy” rating and set a $206.00 target price for the company in a research note on Tuesday, May 18th. Barclays raised their target price on Trane Technologies from $180.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, May 6th. They noted that the move was a valuation call. Royal Bank of Canada raised their target price on Trane Technologies from $164.00 to $181.00 and gave the company a “sector perform” rating in a research note on Thursday, May 6th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Trane Technologies from $157.00 to $184.00 and gave the company a “hold” rating in a research note on Thursday, May 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $165.73.
Trane Technologies Profile
Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services climate control products for heating, ventilation, air conditioning, and transport solutions. 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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