Keyes Stange & Wooten Wealth Management LLC Cuts Stake in Trane Technologies plc (NYSE:TT)

Keyes Stange & Wooten Wealth Management LLC trimmed its stake in Trane Technologies plc (NYSE:TT) by 3.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 896 shares of the company’s stock after selling 28 shares during the quarter. Keyes Stange & Wooten Wealth Management LLC’s holdings in Trane Technologies were worth $348,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of TT. International Assets Investment Management LLC grew its stake in shares of Trane Technologies by 35,914.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after buying an additional 1,640,569 shares during the period. Swedbank AB purchased a new stake in Trane Technologies during the first quarter valued at about $206,211,000. Massachusetts Financial Services Co. MA increased its stake in Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after acquiring an additional 671,691 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Trane Technologies by 7,363.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock worth $139,067,000 after purchasing an additional 417,120 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in shares of Trane Technologies by 162.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock valued at $147,263,000 after purchasing an additional 277,274 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TT. 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. Morgan Stanley assumed coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. Robert W. Baird decreased their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a report on Thursday, October 31st. Finally, Mizuho boosted their price objective on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and a consensus price target of $397.64.

Trane Technologies Stock Up 0.5 %

TT stock opened at $417.42 on Friday. 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 firm has a 50 day simple moving average of $394.03 and a 200-day simple moving average of $356.08. The company has a market capitalization of $93.93 billion, a P/E ratio of 38.72, a PEG ratio of 2.63 and a beta of 1.02. Trane Technologies plc has a twelve month low of $221.22 and a twelve month high of $421.78.

Trane Technologies (NYSE:TT) last released its earnings results 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 net margin of 12.73% and a return on equity of 34.62%. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the previous year, the firm earned $2.79 EPS. The company’s revenue was up 10.0% on a year-over-year basis. On average, equities research analysts predict that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio is presently 31.17%.

Trane Technologies 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.