Trane Technologies plc (NYSE:TT) Shares Sold by KBC Group NV

KBC Group NV trimmed its position in Trane Technologies plc (NYSE:TT) by 0.2% during the third quarter, HoldingsChannel.com reports. The firm owned 51,418 shares of the company’s stock after selling 104 shares during the quarter. KBC Group NV’s holdings in Trane Technologies were worth $19,988,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TT. DT Investment Partners LLC purchased a new stake in Trane Technologies during the 3rd quarter worth $36,000. Fortitude Family Office LLC lifted its stake in shares of 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 purchasing an additional 43 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in shares of Trane Technologies during the second quarter worth about $39,000. Quarry LP purchased a new stake in shares of Trane Technologies in the second quarter worth about $39,000. Finally, Pittenger & Anderson Inc. purchased a new stake in shares of Trane Technologies during the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $407.60 on Friday. The company has a market capitalization of $91.72 billion, a P/E ratio of 37.81, a price-to-earnings-growth ratio of 2.63 and a beta of 1.02. The company’s 50 day moving average price is $386.78 and its two-hundred day moving average price is $352.06. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $421.78. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (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 firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the previous year, the business earned $2.79 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. On average, analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s payout ratio is currently 31.17%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TT shares. Barclays upped their target price on shares of Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. 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 note on Thursday, August 1st. Robert W. Baird cut their price target 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. Wells Fargo & Company raised their price objective on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Finally, HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and an average price target of $389.77.

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.