Guinness Asset Management LTD Takes Position in Trane Technologies plc $TT

Guinness Asset Management LTD bought a new position in shares of Trane Technologies plc (NYSE:TT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 33,372 shares of the company’s stock, valued at approximately $13,829,000.

A number of other large investors also recently added to or reduced their stakes in the business. Portside Wealth Group LLC grew its holdings in Trane Technologies by 4.8% during the 3rd quarter. Portside Wealth Group LLC now owns 1,073 shares of the company’s stock valued at $453,000 after buying an additional 49 shares in the last quarter. ABN AMRO Bank N.V. boosted its position in shares of Trane Technologies by 3.5% during the third quarter. ABN AMRO Bank N.V. now owns 685,288 shares of the company’s stock worth $288,306,000 after acquiring an additional 23,444 shares during the last quarter. HighPoint Advisor Group LLC grew its stake in Trane Technologies by 10.7% during the third quarter. HighPoint Advisor Group LLC now owns 3,425 shares of the company’s stock valued at $1,445,000 after acquiring an additional 330 shares in the last quarter. HORAN Wealth LLC increased its holdings in Trane Technologies by 4.7% in the 3rd quarter. HORAN Wealth LLC now owns 17,028 shares of the company’s stock valued at $7,185,000 after acquiring an additional 769 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in Trane Technologies by 10.2% in the 3rd quarter. Bessemer Group Inc. now owns 7,363 shares of the company’s stock worth $3,106,000 after purchasing an additional 683 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Down 1.2%

NYSE TT 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. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The firm has a market capitalization of $96.69 billion, a price-to-earnings ratio of 33.59, a PEG ratio of 2.32 and a beta of 1.21. The company has a fifty day moving average of $397.57 and a two-hundred day moving average of $414.71.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.05. The firm had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The business’s revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the business earned $2.61 EPS. On average, analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a $1.05 dividend. The ex-dividend date is Friday, March 6th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. Trane Technologies’s dividend payout ratio (DPR) is currently 28.97%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on TT shares. Citigroup raised their price objective on Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Oppenheimer raised their price target on Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a report on Friday, January 30th. UBS Group decreased their price objective on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Wells Fargo & Company raised their target price on shares of Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a report on Friday, January 30th. Finally, Morgan Stanley reduced their price target on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $484.67.

Trane Technologies Company 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.