D.B. Root & Company LLC Sells 226 Shares of Trane Technologies plc (NYSE:TT)

D.B. Root & Company LLC decreased its holdings in shares of Trane Technologies plc (NYSE:TT) by 12.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,643 shares of the company’s stock after selling 226 shares during the period. D.B. Root & Company LLC’s holdings in Trane Technologies were worth $639,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC raised its position in shares of Trane Technologies by 138.0% during the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock valued at $2,001,000 after acquiring an additional 3,866 shares during the last quarter. Sei Investments Co. raised its position in shares of Trane Technologies by 379.2% during the 1st quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock valued at $91,909,000 after acquiring an additional 242,271 shares during the last quarter. Albar Capital Ltd acquired a new position in shares of Trane Technologies in the 2nd quarter valued at $14,556,000. M&G Plc acquired a new position in shares of Trane Technologies in the 1st quarter valued at $8,939,000. Finally, Gradient Investments LLC grew its holdings 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 buying an additional 1,997 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TT. Mizuho boosted their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada boosted their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. Stephens reaffirmed an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. The Goldman Sachs Group upped their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company upped their target price 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. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and an average price target of $380.15.

Trane Technologies Stock Up 0.4 %

Shares of TT stock opened at $391.88 on Thursday. 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 firm’s 50-day moving average is $379.11 and its 200-day moving average is $347.42. The stock has a market cap of $88.18 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 2.39 and a beta of 1.02. Trane Technologies plc has a 52-week low of $214.35 and a 52-week high of $406.96.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. Trane Technologies’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.79 EPS. Sell-side analysts predict that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.86%. Trane Technologies’s payout ratio is 31.17%.

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.