OneAscent Financial Services LLC Sells 1,651 Shares of Trane Technologies plc (NYSE:TT)

OneAscent Financial Services LLC lessened its position in Trane Technologies plc (NYSE:TT) by 42.2% in the third quarter, HoldingsChannel reports. The firm owned 2,262 shares of the company’s stock after selling 1,651 shares during the quarter. OneAscent Financial Services LLC’s holdings in Trane Technologies were worth $879,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TT. MidAtlantic Capital Management Inc. purchased a new position in shares of Trane Technologies in the 3rd quarter valued at approximately $27,000. DT Investment Partners LLC purchased a new position in shares of Trane Technologies in the 3rd quarter valued at approximately $36,000. Fortitude Family Office LLC lifted its stake in shares of Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after purchasing an additional 43 shares during the period. Triad Wealth Partners LLC purchased a new position in shares of Trane Technologies in the 2nd quarter valued at approximately $39,000. Finally, Quarry LP purchased a new position in shares of Trane Technologies in the 2nd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT opened at $409.70 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies plc has a one year low of $221.22 and a one year high of $421.78. The firm has a market capitalization of $92.19 billion, a P/E ratio of 38.01, a PEG ratio of 2.58 and a beta of 1.02. The business has a fifty day moving average of $389.37 and a 200 day moving average of $353.97.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the previous year, the company posted $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 anticipate that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend 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 Analyst Weigh In

A number of research analysts have issued reports on TT shares. Barclays lifted their price objective on Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research note on Thursday, October 31st. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Royal Bank of Canada lifted their price objective 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. Finally, Morgan Stanley started coverage on Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.