Pacer Advisors Inc. Has $6.50 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Pacer Advisors Inc. lowered its stake in Trane Technologies plc (NYSE:TT) by 9.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 16,725 shares of the company’s stock after selling 1,690 shares during the period. Pacer Advisors Inc.’s holdings in Trane Technologies were worth $6,502,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Albar Capital Ltd acquired a new stake in shares of Trane Technologies during the 2nd quarter valued at $14,556,000. GDS Wealth Management grew its holdings in shares of Trane Technologies by 4.3% during the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after purchasing an additional 2,124 shares during the last quarter. King Wealth Management Group bought a new stake in shares of Trane Technologies during the third quarter worth about $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 during the period. Finally, QRG Capital Management Inc. raised its holdings in Trane Technologies by 4.1% in the 2nd 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. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TT. Barclays upped their price target on shares of Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Morgan Stanley initiated coverage on Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target on the stock. Northcoast Research initiated coverage on Trane Technologies in a research note on Friday. They issued a “buy” rating and a $500.00 price target for the company. Finally, HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $397.64.

Trane Technologies Trading Up 0.5 %

NYSE:TT opened at $417.49 on Friday. Trane Technologies plc has a 12 month low of $221.22 and a 12 month high of $421.78. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $93.94 billion, a price-to-earnings ratio of 38.73, a PEG ratio of 2.63 and a beta of 1.02. The firm has a fifty day simple moving average of $394.03 and a two-hundred day simple moving average of $356.29.

Trane Technologies (NYSE:TT) last issued 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. 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 the consensus estimate of $5.32 billion. During the same period last year, the business posted $2.79 EPS. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts expect that Trane Technologies plc will post 11.14 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 0.80%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is 31.17%.

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.