Trane Technologies plc (NYSE:TT) Shares Sold by Atria Investments Inc

Atria Investments Inc trimmed its stake in shares of Trane Technologies plc (NYSE:TT) by 0.2% in the third quarter, Holdings Channel.com reports. The fund owned 38,681 shares of the company’s stock after selling 76 shares during the period. Atria Investments Inc’s holdings in Trane Technologies were worth $15,036,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TT. Duality Advisers LP acquired a new stake in shares of Trane Technologies during the 1st quarter valued at approximately $331,000. Envestnet Portfolio Solutions Inc. lifted its position in shares of Trane Technologies by 9.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 9,920 shares of the company’s stock valued at $2,978,000 after acquiring an additional 892 shares during the period. Empowered Funds LLC lifted its position in shares of 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. PFG Advisors acquired a new position in shares of Trane Technologies during the 1st quarter worth approximately $243,000. Finally, Atomi Financial Group Inc. raised its position in shares of Trane Technologies by 4.0% during the 1st quarter. Atomi Financial Group Inc. now owns 1,474 shares of the company’s stock worth $442,000 after purchasing an additional 57 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Up 3.7 %

Shares of NYSE TT opened at $410.58 on Friday. Trane Technologies plc has a 52-week low of $220.62 and a 52-week high of $413.74. The firm has a fifty day moving average of $381.70 and a 200-day moving average of $348.89. The stock has a market capitalization of $92.39 billion, a PE ratio of 38.09, a P/E/G ratio of 2.48 and a beta of 1.02. The company has a quick ratio of 0.92, a current ratio of 1.22 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, beating the consensus estimate of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.79 EPS. On average, analysts anticipate that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

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 issued 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 0.82%. Trane Technologies’s payout ratio is 31.17%.

Analyst Ratings Changes

Several research analysts recently issued reports on TT shares. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Royal Bank of Canada lifted their price objective on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Morgan Stanley started coverage on Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective for the company. Robert W. Baird cut 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. Finally, HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research report on Thursday, October 31st. One investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $380.15.

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.