Trane Technologies plc (NYSE:TT) Shares Sold by SageView Advisory Group LLC

SageView Advisory Group LLC lessened its stake in Trane Technologies plc (NYSE:TT) by 14.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,081 shares of the company’s stock after selling 1,343 shares during the period. SageView Advisory Group LLC’s holdings in Trane Technologies were worth $3,141,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in TT. MidAtlantic Capital Management Inc. acquired a new position in Trane Technologies during the 3rd quarter worth approximately $27,000. DT Investment Partners LLC acquired a new position in Trane Technologies during the 3rd quarter worth approximately $36,000. Triad Wealth Partners LLC acquired a new position in Trane Technologies during the 2nd quarter worth approximately $39,000. Quarry LP acquired a new position in Trane Technologies during the 2nd quarter worth approximately $39,000. Finally, Pittenger & Anderson Inc. acquired a new position in Trane Technologies during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on TT. Barclays upped their target price on Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. UBS Group started coverage on Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price on the stock. Robert W. Baird cut their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their price target on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. One investment 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. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $397.64.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $417.46 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The firm’s 50-day moving average price is $399.72 and its two-hundred day moving average price is $361.12. Trane Technologies plc has a 52-week low of $227.86 and a 52-week high of $422.00. The stock has a market capitalization of $93.94 billion, a P/E ratio of 38.73, a P/E/G ratio of 2.50 and a beta of 1.03.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter last year, the business earned $2.79 earnings per share. Trane Technologies’s revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Trane Technologies plc will post 11.14 earnings per share for the current 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 paid a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.80%. 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.