Commerce Bank Cuts Stock Holdings in Trane Technologies plc (NYSE:TT)

Commerce Bank lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 0.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 111,720 shares of the company’s stock after selling 673 shares during the quarter. Commerce Bank’s holdings in Trane Technologies were worth $43,429,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. MWA Asset Management increased its position in shares of Trane Technologies by 27.8% during the third quarter. MWA Asset Management now owns 1,716 shares of the company’s stock worth $667,000 after acquiring an additional 373 shares during the period. Strategy Asset Managers LLC purchased a new position in Trane Technologies in the third quarter valued at $984,000. Avior Wealth Management LLC increased its holdings in Trane Technologies by 18.2% in the third quarter. Avior Wealth Management LLC now owns 1,186 shares of the company’s stock valued at $461,000 after buying an additional 183 shares during the last quarter. West Family Investments Inc. increased its holdings in Trane Technologies by 17.2% in the third quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock valued at $417,000 after buying an additional 157 shares during the last quarter. Finally, Banque Cantonale Vaudoise increased its holdings in Trane Technologies by 9.0% in the third quarter. Banque Cantonale Vaudoise now owns 29,176 shares of the company’s stock valued at $11,342,000 after buying an additional 2,408 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $413.05 on Wednesday. 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 company has a market cap of $92.94 billion, a P/E ratio of 38.32, a PEG ratio of 2.58 and a beta of 1.02. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $421.78. The company has a 50-day moving average price of $390.71 and a 200 day moving average price of $354.63.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.79 earnings per share. Research analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.81%. Trane Technologies’s payout ratio is currently 31.17%.

Analyst Ratings Changes

Several research firms recently commented on TT. Stephens reissued an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Royal Bank of Canada raised their price objective on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. The Goldman Sachs Group raised their price objective on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Mizuho raised their price objective on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, UBS Group started coverage on Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and a consensus price target of $389.77.

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.