WCM Investment Management LLC Sells 68 Shares of Trane Technologies plc (NYSE:TT)

WCM Investment Management LLC trimmed its position in Trane Technologies plc (NYSE:TT) by 2.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,234 shares of the company’s stock after selling 68 shares during the period. WCM Investment Management LLC’s holdings in Trane Technologies were worth $1,242,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DT Investment Partners LLC purchased a new position in shares of Trane Technologies in the 3rd quarter worth about $36,000. Fortitude Family Office LLC grew its position in shares of Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after acquiring an additional 43 shares during the period. Triad Wealth Partners LLC purchased a new stake in shares of Trane Technologies during the 2nd quarter worth approximately $39,000. Quarry LP bought a new stake in shares of Trane Technologies in the 2nd quarter worth approximately $39,000. Finally, Pittenger & Anderson Inc. purchased a new position in Trane Technologies in the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.9 %

TT opened at $411.22 on Wednesday. The business’s fifty day simple moving average is $382.76 and its 200 day simple moving average is $350.45. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $416.86. 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 stock has a market cap of $92.53 billion, a PE ratio of 38.15, a P/E/G ratio of 2.60 and a beta of 1.02.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The company 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%. Trane Technologies’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the firm posted $2.79 EPS. As a group, research analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 yield of 0.82%. Trane Technologies’s payout ratio is 31.17%.

Analyst Ratings Changes

Several research firms have recently issued reports on TT. Wells Fargo & Company boosted their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Stephens restated an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research report on Monday, August 5th. The Goldman Sachs Group lifted their price target on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a report on Thursday, October 31st. Finally, Robert W. Baird decreased their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock 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 five have issued a buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and a consensus target price of $380.15.

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.