Trane Technologies plc (NYSE:TT) Stake Lessened by Centiva Capital LP

Centiva Capital LP decreased its position in shares of Trane Technologies plc (NYSE:TT) by 67.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,906 shares of the company’s stock after selling 10,171 shares during the quarter. Centiva Capital LP’s holdings in Trane Technologies were worth $1,907,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new position in shares of Trane Technologies during the 3rd quarter valued at about $27,000. DT Investment Partners LLC bought a new stake in Trane Technologies during the third quarter worth approximately $36,000. Fortitude Family Office LLC boosted its holdings in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after buying an additional 43 shares in the last quarter. Triad Wealth Partners LLC bought a new position in shares of Trane Technologies in the second quarter valued at $39,000. Finally, Quarry LP acquired a new stake in shares of Trane Technologies during the 2nd quarter valued at $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Price Performance

NYSE TT opened at $412.56 on Wednesday. The company has a 50 day moving average price of $399.13 and a two-hundred day moving average price of $360.72. Trane Technologies plc has a 12-month low of $226.18 and a 12-month high of $422.00. The stock has a market capitalization of $92.83 billion, a PE ratio of 38.27, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03. 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 issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the prior year, the company posted $2.79 earnings per share. Trane Technologies’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities analysts predict that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced 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 of this dividend 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%.

Analysts Set New Price Targets

TT has been the topic of a number of recent analyst reports. Morgan Stanley assumed coverage on Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 target price on the stock. Northcoast Research began coverage on shares of Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price for the company. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Barclays lifted their price objective on shares of Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group increased their target price on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus price target of $397.64.

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.