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Cetera Investment Advisers Has $23.20 Million Holdings in Trane Technologies plc (NYSE:TT)

Trane Technologies logo with Construction background

Key Points

  • Cetera Investment Advisers increased its holdings in Trane Technologies by 16.7%, acquiring an additional 9,876 shares to reach a total of 68,866 shares worth approximately $23 million.
  • Trane Technologies reported $2.45 EPS for the latest quarter, surpassing analysts' estimates, with revenue growing 11.2% year-over-year.
  • The company declared a quarterly dividend of $0.94 per share, with an annualized dividend yield of 0.80%, and a dividend payout ratio of 31.28%.
  • Interested in Trane Technologies? Here are five stocks we like better.

Cetera Investment Advisers grew its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 16.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,866 shares of the company's stock after purchasing an additional 9,876 shares during the quarter. Cetera Investment Advisers' holdings in Trane Technologies were worth $23,202,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Trane Technologies by 35,458.2% in the first quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock worth $679,161,000 after purchasing an additional 2,010,123 shares during the period. Northern Trust Corp boosted its stake in shares of Trane Technologies by 20.1% in the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after acquiring an additional 429,953 shares during the last quarter. Pictet Asset Management Holding SA raised its position in Trane Technologies by 27.3% in the first quarter. Pictet Asset Management Holding SA now owns 1,915,630 shares of the company's stock valued at $645,343,000 after purchasing an additional 410,734 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Trane Technologies in the fourth quarter valued at $147,251,000. Finally, BNP Paribas Financial Markets purchased a new stake in Trane Technologies during the 4th quarter worth about $137,999,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Price Performance

NYSE:TT traded up $7.59 on Thursday, hitting $439.03. The company had a trading volume of 660,304 shares, compared to its average volume of 1,489,360. The stock has a market capitalization of $97.91 billion, a price-to-earnings ratio of 36.50, a PEG ratio of 3.06 and a beta of 1.15. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $434.98 and a two-hundred day moving average of $387.79. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.79 by $0.09. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the prior year, the firm earned $3.30 EPS. The firm's revenue was up 7.6% compared to the same quarter last year. On average, research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.86%. The ex-dividend date is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is currently 31.28%.

Analyst Ratings Changes

A number of brokerages recently issued reports on TT. UBS Group upped their target price on Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group raised their price objective on Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a research report on Thursday, May 1st. Finally, Wells Fargo & Company upped their price target on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $444.40.

Check Out Our Latest Report on Trane Technologies

About Trane Technologies

(Free Report)

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.

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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