Horan Capital Advisors LLC. Sells 392 Shares of Trane Technologies plc (NYSE:TT)

Horan Capital Advisors LLC. decreased its holdings in shares of Trane Technologies plc (NYSE:TT) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,429 shares of the company’s stock after selling 392 shares during the quarter. Trane Technologies makes up 2.4% of Horan Capital Advisors LLC.’s holdings, making the stock its 10th biggest position. Horan Capital Advisors LLC.’s holdings in Trane Technologies were worth $7,164,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Albar Capital Ltd bought a new position in shares of Trane Technologies during the second quarter worth approximately $14,556,000. GDS Wealth Management increased its position in Trane Technologies by 4.3% during the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after buying an additional 2,124 shares during the period. King Wealth Management Group acquired a new stake in shares of Trane Technologies during the third quarter worth $1,879,000. Gradient Investments LLC boosted its position in shares of Trane Technologies by 7,988.0% in the second quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock valued at $665,000 after acquiring an additional 1,997 shares during the period. Finally, Bessemer Group Inc. increased its position in Trane Technologies by 29.2% during the first quarter. Bessemer Group Inc. now owns 53,255 shares of the company’s stock worth $15,988,000 after acquiring an additional 12,045 shares during the period. 82.97% of the stock is owned by institutional investors.

Trane Technologies Price Performance

TT stock opened at $409.70 on Tuesday. Trane Technologies plc has a 1 year low of $221.22 and a 1 year high of $421.78. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The stock has a market cap of $92.19 billion, a price-to-earnings ratio of 38.01, a P/E/G ratio of 2.58 and a beta of 1.02. The company has a 50 day simple moving average of $389.37 and a 200 day simple moving average of $353.97.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the business posted $2.79 EPS. Research analysts anticipate that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.82%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TT shares. The Goldman Sachs Group increased their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Robert W. Baird reduced their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a report on Thursday, October 31st. Royal Bank of Canada increased their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. Finally, Morgan Stanley assumed coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $389.77.

About Trane Technologies

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.