OneAscent Investment Solutions LLC Acquires New Stake in Trane Technologies plc (NYSE:TT)

OneAscent Investment Solutions LLC acquired a new stake in shares of Trane Technologies plc (NYSE:TT) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,070 shares of the company’s stock, valued at approximately $1,034,000. Trane Technologies accounts for approximately 1.2% of OneAscent Investment Solutions LLC’s investment portfolio, making the stock its 10th largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Minot DeBlois Advisors LLC bought a new position in Trane Technologies in the 4th quarter worth approximately $26,000. WFA Asset Management Corp boosted its holdings in Trane Technologies by 208.3% in the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company’s stock worth $25,000 after buying an additional 50 shares during the period. Vermillion & White Wealth Management Group LLC bought a new position in Trane Technologies in the 4th quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new position in Trane Technologies in the 1st quarter worth approximately $31,000. Finally, Bogart Wealth LLC boosted its holdings in Trane Technologies by 97.9% in the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company’s stock worth $31,000 after buying an additional 46 shares during the period. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. UBS Group raised their price objective on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $370.00 to $410.00 and gave the company an “underweight” rating in a research report on Tuesday, July 1st. Morgan Stanley lifted their target price on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Finally, HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and lifted their target price for the stock from $415.00 to $460.00 in a research report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and an average price target of $458.60.

Trane Technologies Price Performance

TT stock opened at $435.30 on Thursday. The firm’s 50-day moving average price is $435.54 and its two-hundred day moving average price is $390.67. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The stock has a market capitalization of $96.86 billion, a price-to-earnings ratio of 34.52, a PEG ratio of 2.73 and a beta of 1.09. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.79 by $0.09. The firm had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.30 earnings per share. As a group, equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s payout ratio is presently 29.82%.

Trane Technologies Company Profile

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.