Private Trust Co. NA Reduces Stock Holdings in Trane Technologies plc (NYSE:TT)

Private Trust Co. NA cut its holdings in Trane Technologies plc (NYSE:TT) by 16.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 660 shares of the company’s stock after selling 128 shares during the quarter. Private Trust Co. NA’s holdings in Trane Technologies were worth $257,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TT. MidAtlantic Capital Management Inc. purchased a new position in Trane Technologies during the third quarter worth $27,000. DT Investment Partners LLC acquired a new position in Trane Technologies in the 3rd quarter valued at about $36,000. Pittenger & Anderson Inc. purchased a new position in Trane Technologies in the 3rd quarter valued at about $39,000. Fortitude Family Office LLC boosted its stake 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 worth $37,000 after purchasing an additional 43 shares during the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Trane Technologies during the second quarter worth about $39,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note 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. Morgan Stanley started coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price for the company. Stephens reiterated an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research report on Monday, August 5th. Finally, Royal Bank of Canada lifted their price target on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $397.64.

Trane Technologies Trading Down 0.7 %

Shares of TT stock opened at $416.09 on Friday. 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 plc has a fifty-two week low of $221.22 and a fifty-two week high of $422.00. The firm’s 50 day moving average price is $397.38 and its two-hundred day moving average price is $358.48. The stock has a market cap 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.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the previous year, the business posted $2.79 EPS. The business’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts anticipate that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Dividend Announcement

The business 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 of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.81%. Trane Technologies’s payout ratio is currently 31.17%.

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.