Trane Technologies plc (NYSE:TT) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. trimmed its stake in Trane Technologies plc (NYSE:TT) by 3.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 89,870 shares of the company’s stock after selling 3,517 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Trane Technologies were worth $34,935,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TT. Norden Group LLC purchased a new position in shares of Trane Technologies during the first quarter valued at $646,000. Private Advisor Group LLC grew its holdings in shares of Trane Technologies by 4.2% during the first quarter. Private Advisor Group LLC now owns 8,341 shares of the company’s stock valued at $2,504,000 after buying an additional 334 shares in the last quarter. Diversify Advisory Services LLC purchased a new position in shares of Trane Technologies during the first quarter valued at $215,000. Financial Counselors Inc. grew its holdings in shares of Trane Technologies by 3.1% during the first quarter. Financial Counselors Inc. now owns 2,382 shares of the company’s stock valued at $715,000 after buying an additional 71 shares in the last quarter. Finally, Mediolanum International Funds Ltd purchased a new position in shares of Trane Technologies during the first quarter valued at $6,871,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Mizuho lifted their price objective on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Morgan Stanley assumed coverage on Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective for the company. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research report on Thursday, October 31st. Finally, Barclays lifted 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $380.15.

Trane Technologies Price Performance

NYSE TT opened at $376.99 on Tuesday. Trane Technologies plc has a twelve month low of $214.35 and a twelve month high of $406.96. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The stock has a market capitalization of $84.83 billion, a PE ratio of 34.97, a P/E/G ratio of 2.38 and a beta of 1.02. The stock has a 50-day simple moving average of $378.36 and a 200 day simple moving average of $346.70.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping 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 business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the previous year, the firm earned $2.79 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. Research analysts anticipate that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.89%. Trane Technologies’s dividend payout ratio is 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.