Trane Technologies plc (NYSE:TT) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,211 shares of the company’s stock after selling 1,747 shares during the period. MetLife Investment Management LLC’s holdings in Trane Technologies were worth $24,183,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. International Assets Investment Management LLC grew its holdings in Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after acquiring an additional 1,640,569 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after purchasing an additional 671,691 shares during the period. 1832 Asset Management L.P. increased its holdings in shares of Trane Technologies by 7,363.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock valued at $139,067,000 after purchasing an additional 417,120 shares in the last quarter. FMR LLC lifted its stake in shares of Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after purchasing an additional 397,537 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 during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

Shares of NYSE TT opened at $416.09 on Thursday. The stock has a market capitalization of $93.63 billion, a price-to-earnings ratio of 38.60, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The firm has a 50-day simple moving average of $396.69 and a 200-day simple moving average of $358.08. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $422.00. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.14. The firm 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%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.79 EPS. On average, equities analysts predict that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed 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 (DPR) is currently 31.17%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. 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 report on Thursday, October 17th. Stephens restated an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Wells Fargo & Company increased their price target on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. UBS Group assumed coverage on Trane Technologies in a research note on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price for the company. Finally, HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and a consensus target price of $397.64.

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.