Concentric Capital Strategies LP Sells 1,690 Shares of Trane Technologies plc (NYSE:TT)

Concentric Capital Strategies LP lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 11.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 12,575 shares of the company’s stock after selling 1,690 shares during the period. Concentric Capital Strategies LP’s holdings in Trane Technologies were worth $4,888,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TT. Albar Capital Ltd acquired a new stake in shares of Trane Technologies during the second quarter worth approximately $14,556,000. GDS Wealth Management raised its position in Trane Technologies by 4.3% in the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after purchasing an additional 2,124 shares during the last quarter. King Wealth Management Group acquired a new position in Trane Technologies in the third quarter worth $1,879,000. Gradient Investments LLC increased its stake in shares of Trane Technologies by 7,988.0% in the second quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock valued at $665,000 after buying an additional 1,997 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in shares of Trane Technologies by 4.1% in the second quarter. QRG Capital Management Inc. now owns 39,475 shares of the company’s stock valued at $12,985,000 after buying an additional 1,554 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Up 0.0 %

TT stock opened at $416.22 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The stock has a market capitalization of $93.66 billion, a P/E ratio of 38.61, a P/E/G ratio of 2.52 and a beta of 1.02. Trane Technologies plc has a fifty-two week low of $221.22 and a fifty-two week high of $422.00. The business has a 50-day moving average of $398.01 and a 200-day moving average of $359.50.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.23 by $0.14. The firm had revenue of $5.44 billion for 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 business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.79 EPS. On average, sell-side analysts anticipate that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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

Analyst Ratings Changes

TT has been the topic of a number of research analyst reports. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Northcoast Research began coverage on Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 target price on the stock. The Goldman Sachs Group increased their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Stephens restated an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. Finally, Morgan Stanley assumed coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $397.64.

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.