Northwest & Ethical Investments L.P. Sells 12,916 Shares of Trane Technologies plc (NYSE:TT)

Northwest & Ethical Investments L.P. lessened its stake in Trane Technologies plc (NYSE:TT) by 16.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,588 shares of the company’s stock after selling 12,916 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Trane Technologies were worth $26,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new position in shares of Trane Technologies in the 3rd quarter worth about $27,000. DT Investment Partners LLC purchased a new position in shares of Trane Technologies in the 3rd quarter worth about $36,000. Pittenger & Anderson Inc. purchased a new position in shares of Trane Technologies in the 3rd quarter worth about $39,000. Fortitude Family Office LLC raised its position in Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after buying an additional 43 shares during the last quarter. Finally, Triad Wealth Partners LLC purchased a new position in Trane Technologies in the 2nd quarter worth about $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.7 %

Shares of TT stock traded down $3.05 during trading hours on Thursday, reaching $416.09. 889,240 shares of the stock were exchanged, compared to its average volume of 1,116,844. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 12-month low of $221.22 and a 12-month high of $422.00. The firm has a market capitalization of $93.63 billion, a price-to-earnings ratio of 38.60, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The company’s 50-day moving average price is $396.69 and its 200-day moving average price is $358.08.

Trane Technologies (NYSE:TT) last issued its quarterly 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 the consensus estimate of $5.32 billion. During the same period in the prior year, the business posted $2.79 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities analysts anticipate that Trane Technologies plc will post 11.14 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm 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. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.81%. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

Analyst Ratings Changes

A number of equities analysts have weighed in on TT shares. Wells Fargo & Company boosted their target price on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Northcoast Research started coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target for the company. Mizuho upped their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley started coverage on shares of Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target for the company. Finally, Royal Bank of Canada upped their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $397.64.

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.