First Horizon Advisors Inc. Has $1.54 Million Stake in Trane Technologies plc (NYSE:TT)

First Horizon Advisors Inc. lowered its stake in Trane Technologies plc (NYSE:TT) by 10.5% during the third quarter, Holdings Channel reports. The firm owned 3,963 shares of the company’s stock after selling 467 shares during the period. First Horizon Advisors Inc.’s holdings in Trane Technologies were worth $1,541,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. International Assets Investment Management LLC increased its stake in shares of Trane Technologies by 35,914.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after purchasing an additional 1,640,569 shares during the last quarter. Swedbank AB bought a new position in shares of Trane Technologies in the first quarter worth about $206,211,000. 1832 Asset Management L.P. lifted its holdings in shares of Trane Technologies by 7,363.1% in the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock worth $139,067,000 after acquiring an additional 417,120 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Trane Technologies by 162.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock valued at $147,263,000 after purchasing an additional 277,274 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Trane Technologies by 1,023.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 235,858 shares of the company’s stock worth $77,581,000 after purchasing an additional 214,855 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.5 %

Trane Technologies stock opened at $411.16 on Thursday. The company has a market capitalization of $92.52 billion, a PE ratio of 38.14, a PEG ratio of 2.58 and a beta of 1.02. Trane Technologies plc has a 12-month low of $221.22 and a 12-month high of $421.78. The firm’s fifty day moving average is $391.85 and its 200 day moving average is $355.02. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the prior year, the firm earned $2.79 EPS. The business’s revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts predict that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. UBS Group started coverage on shares of Trane Technologies in a research report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price on the stock. The Goldman Sachs Group raised their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Robert W. Baird dropped their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Mizuho lifted their price target on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Stephens reiterated an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus 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.