KCM Investment Advisors LLC Has $39.59 Million Stake in Trane Technologies plc (NYSE:TT)

KCM Investment Advisors LLC cut its stake in Trane Technologies plc (NYSE:TT) by 1.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 101,831 shares of the company’s stock after selling 1,575 shares during the quarter. Trane Technologies comprises 1.3% of KCM Investment Advisors LLC’s investment portfolio, making the stock its 20th largest position. KCM Investment Advisors LLC’s holdings in Trane Technologies were worth $39,585,000 at the end of the most recent quarter.

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

Trane Technologies Stock Performance

Shares of TT stock traded down $3.38 during trading on Friday, reaching $406.74. 169,927 shares of the company’s stock traded hands, compared to its average volume of 1,113,033. The firm’s 50-day moving average is $386.78 and its 200 day moving average is $352.06. The company has a market capitalization of $91.52 billion, a P/E ratio of 38.05, a PEG ratio of 2.63 and a beta of 1.02. Trane Technologies plc has a 1 year low of $221.22 and a 1 year high of $421.78. The company has a current ratio of 1.22, a quick ratio of 0.92 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 company had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.79 earnings per share. Equities research analysts expect that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s payout ratio is 31.17%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TT. Morgan Stanley began coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price for the company. Royal Bank of Canada raised their target price on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. UBS Group began coverage on Trane Technologies in a research note on Wednesday. They set a “buy” rating and a $500.00 target price on the stock. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a research report on Thursday, October 31st. Finally, Robert W. Baird lowered their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $389.77.

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.