Trane Technologies plc (NYSE:TT) Shares Sold by Private Trust Co. NA

Private Trust Co. NA reduced its stake in Trane Technologies plc (NYSE:TT) by 16.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 660 shares of the company’s stock after selling 128 shares during the period. Private Trust Co. NA’s holdings in Trane Technologies were worth $257,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Albar Capital Ltd acquired a new stake in Trane Technologies during the 2nd quarter worth $14,556,000. GDS Wealth Management grew its holdings in shares of Trane Technologies by 4.3% during the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after purchasing an additional 2,124 shares during the last quarter. King Wealth Management Group purchased a new stake in shares of Trane Technologies in the 3rd quarter valued at about $1,879,000. Gradient Investments LLC boosted its position in shares of Trane Technologies by 7,988.0% in the 2nd quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock valued at $665,000 after purchasing an additional 1,997 shares during the period. Finally, QRG Capital Management Inc. grew its stake in Trane Technologies by 4.1% during the 2nd quarter. QRG Capital Management Inc. now owns 39,475 shares of the company’s stock worth $12,985,000 after buying an additional 1,554 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.7 %

TT opened at $416.09 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies plc has a 12 month low of $221.22 and a 12 month high of $422.00. The stock has a market capitalization of $93.63 billion, a P/E ratio of 38.60, a P/E/G ratio of 2.62 and a beta of 1.02. The business has a 50 day simple moving average of $397.38 and a 200-day simple moving average of $358.48.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the company earned $2.79 earnings per share. Trane Technologies’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities analysts anticipate that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.81%. Trane Technologies’s payout ratio is currently 31.17%.

Analysts Set New Price Targets

Several research firms have recently weighed in on TT. The Goldman Sachs Group increased their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Barclays increased their price target on shares of Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Royal Bank of Canada lifted their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. UBS Group started coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price for the company. Finally, Northcoast Research started coverage on Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $397.64.

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.