Trane Technologies plc (NYSE:TT) Position Cut by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lowered its position in shares of Trane Technologies plc (NYSE:TT) by 8.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,682 shares of the company’s stock after selling 619 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Trane Technologies were worth $2,597,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Empowered Funds LLC grew its holdings in Trane Technologies by 2.2% in the 3rd quarter. Empowered Funds LLC now owns 21,034 shares of the company’s stock worth $8,177,000 after buying an additional 443 shares in the last quarter. King Wealth Management Group bought a new position in shares of Trane Technologies in the third quarter worth $1,879,000. CIBC Asset Management Inc increased its holdings in shares of Trane Technologies by 8.0% during the third quarter. CIBC Asset Management Inc now owns 32,942 shares of the company’s stock valued at $12,806,000 after purchasing an additional 2,452 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co bought a new stake in shares of Trane Technologies during the third quarter valued at about $657,000. Finally, ING Groep NV lifted its holdings in Trane Technologies by 72.3% in the third quarter. ING Groep NV now owns 255,681 shares of the company’s stock worth $99,391,000 after purchasing an additional 107,323 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT opened at $407.49 on Friday. Trane Technologies plc has a one year low of $221.22 and a one year high of $421.78. The company has a 50-day moving average of $388.09 and a two-hundred day moving average of $353.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The stock has a market cap of $91.69 billion, a price-to-earnings ratio of 37.80, a PEG ratio of 2.63 and a beta of 1.02.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping 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 quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.79 EPS. On average, equities research analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio is currently 31.17%.

Analyst Upgrades and Downgrades

Several research firms have commented on TT. Wells Fargo & Company raised their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Barclays boosted their target price on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Robert W. Baird decreased their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. UBS Group started coverage on Trane Technologies in a research note on Wednesday. They issued a “buy” rating and a $500.00 price objective on the stock. Finally, Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $389.77.

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.