Guinness Atkinson Asset Management Inc Purchases Shares of 2,159 Trane Technologies plc $TT

Guinness Atkinson Asset Management Inc bought a new stake in shares of Trane Technologies plc (NYSE:TT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,159 shares of the company’s stock, valued at approximately $895,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Icon Advisers Inc. Co. bought a new stake in shares of Trane Technologies during the 2nd quarter valued at about $26,000. Financial Consulate Inc. purchased a new stake in Trane Technologies in the third quarter worth about $25,000. Hantz Financial Services Inc. boosted its position in Trane Technologies by 1,016.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after acquiring an additional 61 shares in the last quarter. United Community Bank raised its position in shares of Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after acquiring an additional 43 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC lifted its stake in shares of Trane Technologies by 34.2% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after purchasing an additional 26 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TT. Citigroup upped their price target on Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Morgan Stanley decreased their price target on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. 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. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective on the stock in a research note on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. One 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 issued a Sell rating to the stock. According to MarketBeat, Trane Technologies has a consensus rating of “Moderate Buy” and an average target price of $484.67.

Trane Technologies Price Performance

Shares of TT opened at $436.06 on Friday. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The company has a market capitalization of $96.69 billion, a P/E ratio of 33.59, a price-to-earnings-growth ratio of 2.32 and a beta of 1.21. The firm has a 50 day moving average of $397.57 and a 200 day moving average of $414.71. 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 (NYSE:TT) last issued its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $5.09 billion. During the same period last year, the business posted $2.61 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

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

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.