Trane Technologies plc (NYSE:TT) Shares Sold by Tower Bridge Advisors

Tower Bridge Advisors cut its stake in Trane Technologies plc (NYSE:TT) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,169 shares of the company’s stock after selling 200 shares during the period. Tower Bridge Advisors’ holdings in Trane Technologies were worth $1,621,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Albar Capital Ltd purchased a new position in Trane Technologies in the second quarter valued at approximately $14,556,000. GDS Wealth Management raised its holdings in Trane Technologies by 4.3% in the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after buying an additional 2,124 shares during the period. Gradient Investments LLC raised its holdings in 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 buying an additional 1,997 shares during the period. Bessemer Group Inc. raised its holdings in Trane Technologies by 29.2% in the first quarter. Bessemer Group Inc. now owns 53,255 shares of the company’s stock valued at $15,988,000 after buying an additional 12,045 shares during the period. Finally, King Wealth Management Group purchased a new position in Trane Technologies in the third quarter valued at approximately $1,879,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on TT. Royal Bank of Canada raised 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. Mizuho lifted their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a research note on Thursday, October 31st. Finally, Barclays lifted their price objective on shares of Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $389.77.

Trane Technologies Stock Down 0.6 %

Shares of NYSE:TT opened at $407.49 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 company has a fifty day simple moving average of $388.09 and a 200 day simple moving average of $353.05. The firm has a market cap of $91.69 billion, a PE ratio of 37.80, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. Trane Technologies plc has a 12-month low of $221.22 and a 12-month high of $421.78.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.79 earnings per share. On average, equities research analysts anticipate that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date 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.