Stevens Capital Management LP Has $216,000 Stock Holdings in Trane Technologies plc (NYSE:TT)

Stevens Capital Management LP trimmed its position in shares of Trane Technologies plc (NYSE:TT) by 61.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 556 shares of the company’s stock after selling 905 shares during the quarter. Stevens Capital Management LP’s holdings in Trane Technologies were worth $216,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Albar Capital Ltd acquired a new stake in shares of Trane Technologies during the second quarter valued at about $14,556,000. GDS Wealth Management boosted its stake in shares of Trane Technologies by 4.3% during the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after purchasing an additional 2,124 shares in the last quarter. King Wealth Management Group acquired a new position in shares of Trane Technologies in the third quarter worth approximately $1,879,000. Gradient Investments LLC lifted its stake in shares of Trane Technologies by 7,988.0% in the second quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock worth $665,000 after acquiring an additional 1,997 shares during the period. Finally, QRG Capital Management Inc. lifted its stake in shares of Trane Technologies by 4.1% in the second quarter. QRG Capital Management Inc. now owns 39,475 shares of the company’s stock worth $12,985,000 after acquiring an additional 1,554 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. The Goldman Sachs Group lifted their price objective on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Northcoast Research assumed coverage on Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective on the stock. Robert W. Baird cut their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Mizuho lifted 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. Finally, Wells Fargo & Company lifted their target price on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $401.93.

Trane Technologies Trading Down 0.6 %

NYSE TT opened at $415.08 on Friday. The company has a market cap of $93.40 billion, a price-to-earnings ratio of 38.50, a P/E/G ratio of 2.50 and a beta of 1.03. Trane Technologies plc has a 52 week low of $229.07 and a 52 week high of $422.00. The business has a 50 day moving average price of $400.29 and a 200-day moving average price of $361.49. 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 released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating the consensus estimate 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 return on equity of 34.62% and a net margin of 12.73%. The company’s quarterly 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. As a group, equities analysts expect that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

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 given a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.81%. Trane Technologies’s payout ratio is 31.17%.

Insider Activity at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is owned by insiders.

Trane Technologies Company 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.