Bank of Montreal Can Lowers Holdings in Trane Technologies plc (NYSE:TT)

Bank of Montreal Can decreased its position in Trane Technologies plc (NYSE:TT) by 2.5% during the third quarter, HoldingsChannel.com reports. The firm owned 393,492 shares of the company’s stock after selling 10,156 shares during the quarter. Bank of Montreal Can’s holdings in Trane Technologies were worth $151,081,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TT. MidAtlantic Capital Management Inc. bought a new position in shares of Trane Technologies in the third quarter worth approximately $27,000. DT Investment Partners LLC purchased a new position in Trane Technologies in the 3rd quarter worth approximately $36,000. Fortitude Family Office LLC lifted its position in Trane Technologies by 63.2% in 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 in the last quarter. Triad Wealth Partners LLC purchased a new stake in Trane Technologies during the 2nd quarter valued at $39,000. Finally, Quarry LP bought a new stake in shares of Trane Technologies in the 2nd quarter worth $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

NYSE:TT opened at $413.32 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The stock has a 50-day simple moving average of $394.91 and a two-hundred day simple moving average of $357.06. The firm has a market capitalization of $93.01 billion, a PE ratio of 38.34, a P/E/G ratio of 2.64 and a beta of 1.02. Trane Technologies plc has a 52-week low of $221.22 and a 52-week high of $422.00.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the firm posted $2.79 EPS. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. Analysts forecast that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TT. Robert W. Baird lowered their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. The Goldman Sachs Group upped their target price 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. Morgan Stanley assumed coverage on shares of Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target for the company. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. Finally, Stephens restated an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, Trane Technologies presently has an average rating of “Hold” and a consensus price target of $397.64.

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.