Kornitzer Capital Management Inc. KS Sells 700 Shares of Trane Technologies plc (NYSE:TT)

Kornitzer Capital Management Inc. KS decreased its position in Trane Technologies plc (NYSE:TT) by 15.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,925 shares of the company’s stock after selling 700 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Trane Technologies were worth $1,526,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TT. Duality Advisers LP bought a new position in shares of Trane Technologies during the first quarter valued at $331,000. Envestnet Portfolio Solutions Inc. raised its position in Trane Technologies by 9.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 9,920 shares of the company’s stock worth $2,978,000 after buying an additional 892 shares during the last quarter. Empowered Funds LLC lifted its stake in Trane Technologies by 138.0% during the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock valued at $2,001,000 after acquiring an additional 3,866 shares during the period. Wealthspire Advisors LLC boosted its holdings in shares of Trane Technologies by 4.7% during the 1st quarter. Wealthspire Advisors LLC now owns 2,963 shares of the company’s stock valued at $890,000 after acquiring an additional 134 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Trane Technologies by 10.4% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,883 shares of the company’s stock worth $565,000 after acquiring an additional 178 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TT has been the topic of a number of research analyst reports. 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 objective on the stock. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a research note on Thursday, October 31st. Robert W. Baird reduced their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company raised 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. Finally, Stephens restated an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and a consensus price target of $380.15.

Trane Technologies Trading Up 3.7 %

Trane Technologies stock opened at $410.58 on Friday. Trane Technologies plc has a 12-month low of $220.62 and a 12-month high of $413.74. The firm has a market capitalization of $92.39 billion, a price-to-earnings ratio of 38.09, a P/E/G ratio of 2.48 and a beta of 1.02. The firm has a 50 day moving average of $380.72 and a 200 day moving average of $348.06. 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 (NYSE:TT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the prior year, the company posted $2.79 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, research analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current 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 issued a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.82%. Trane Technologies’s dividend payout ratio is presently 31.17%.

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.