OneAscent Investment Solutions LLC Takes Position in Trane Technologies plc (NYSE:TT)

OneAscent Investment Solutions LLC acquired a new position in shares of Trane Technologies plc (NYSE:TT) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,070 shares of the company’s stock, valued at approximately $1,034,000. Trane Technologies accounts for 1.2% of OneAscent Investment Solutions LLC’s holdings, making the stock its 10th biggest holding.

Several other hedge funds have also added to or reduced their stakes in the business. Csenge Advisory Group raised its stake in Trane Technologies by 0.6% during the 1st quarter. Csenge Advisory Group now owns 3,944 shares of the company’s stock worth $1,314,000 after buying an additional 25 shares during the period. Fiera Capital Corp increased its holdings in Trane Technologies by 1.4% during the 1st quarter. Fiera Capital Corp now owns 1,930 shares of the company’s stock worth $650,000 after purchasing an additional 27 shares in the last quarter. Bingham Private Wealth LLC increased its holdings in Trane Technologies by 3.2% during the 1st quarter. Bingham Private Wealth LLC now owns 944 shares of the company’s stock worth $318,000 after purchasing an additional 29 shares in the last quarter. Tradewinds Capital Management LLC increased its holdings in Trane Technologies by 46.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 95 shares of the company’s stock worth $32,000 after purchasing an additional 30 shares in the last quarter. Finally, Smith Group Asset Management LLC increased its holdings in Trane Technologies by 1.2% during the 1st quarter. Smith Group Asset Management LLC now owns 2,610 shares of the company’s stock worth $879,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the subject of a number of research reports. Barclays increased their target price on Trane Technologies from $480.00 to $495.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Wells Fargo & Company raised their price objective on Trane Technologies from $370.00 to $410.00 and gave the company an “underweight” rating in a report on Tuesday, July 1st. Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price objective for the company in a report on Thursday, May 1st. Morgan Stanley raised their price objective on Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Finally, Northcoast Research cut Trane Technologies from a “buy” rating to a “neutral” rating in a report on Friday, August 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $458.60.

Trane Technologies Stock Performance

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

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

Trane Technologies Dividend Announcement

The company 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 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 yield of 0.9%. Trane Technologies’s dividend payout ratio is 29.82%.

Trane Technologies 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.