Cynosure Group LLC Decreases Stake in Trane Technologies plc (NYSE:TT)

Cynosure Group LLC decreased its holdings in Trane Technologies plc (NYSE:TT) by 11.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 992 shares of the company’s stock after selling 128 shares during the quarter. Cynosure Group LLC’s holdings in Trane Technologies were worth $386,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. MidAtlantic Capital Management Inc. purchased a new position in Trane Technologies in the 3rd quarter valued at approximately $27,000. DT Investment Partners LLC acquired a new position in shares of Trane Technologies during the 3rd quarter worth $36,000. Fortitude Family Office LLC boosted its position in shares of Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after buying an additional 43 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in Trane Technologies in the 2nd quarter valued at about $39,000. Finally, Quarry LP purchased a new stake in shares of Trane Technologies in the second quarter valued at about $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

TT has been the subject of a number of recent research reports. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Royal Bank of Canada raised their price target on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Barclays upped their price objective on Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Robert W. Baird dropped their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, UBS Group began coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $397.64.

Trane Technologies Stock Performance

Shares of TT stock opened at $416.09 on Thursday. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $422.00. The company’s fifty day simple moving average is $396.69 and its 200-day simple moving average is $358.08. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The company has a market cap of $93.63 billion, a PE ratio of 38.60, a P/E/G ratio of 2.62 and a beta of 1.02.

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

Trane Technologies Announces Dividend

The business also recently declared 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 is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.81%. Trane Technologies’s dividend payout ratio is presently 31.17%.

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.