Chevy Chase Trust Holdings LLC Has $47.36 Million Holdings in Trane Technologies plc (NYSE:TT)

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 2.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,838 shares of the company’s stock after selling 2,571 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Trane Technologies were worth $47,362,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased its stake in shares of Trane Technologies by 22.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 736 shares of the company’s stock valued at $242,000 after buying an additional 134 shares in the last quarter. CWM LLC increased its position in Trane Technologies by 12.0% in the 2nd quarter. CWM LLC now owns 6,483 shares of the company’s stock valued at $2,132,000 after acquiring an additional 697 shares in the last quarter. Thomasville National Bank bought a new position in shares of Trane Technologies in the second quarter worth about $208,000. Contravisory Investment Management Inc. acquired a new position in shares of Trane Technologies during the second quarter worth approximately $431,000. Finally, Fortitude Family Office LLC grew 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 valued at $37,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.4 %

Shares of NYSE TT opened at $414.61 on Tuesday. Trane Technologies plc has a twelve month low of $226.18 and a twelve month high of $422.00. The stock has a market cap of $93.30 billion, a price-to-earnings ratio of 38.46, a P/E/G ratio of 2.52 and a beta of 1.03. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The company’s fifty day moving average is $398.01 and its 200-day moving average is $359.50.

Trane Technologies (NYSE:TT) last posted its earnings results 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. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. 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 company posted $2.79 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities research analysts predict that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is currently 31.17%.

Analyst Ratings Changes

Several research analysts have issued reports on TT shares. Northcoast Research started coverage on Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective on the stock. Morgan Stanley assumed coverage on Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. Mizuho lifted their price objective on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. HSBC downgraded shares of 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. Finally, Robert W. Baird lowered their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $397.64.

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.