Trane Technologies plc (NYSE:TT) Shares Sold by Proficio Capital Partners LLC

Proficio Capital Partners LLC decreased its holdings in shares of Trane Technologies plc (NYSE:TT) by 12.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 534 shares of the company’s stock after selling 74 shares during the quarter. Proficio Capital Partners LLC’s holdings in Trane Technologies were worth $208,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TT. Vanguard Group Inc. grew its stake in shares of Trane Technologies by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock valued at $5,670,032,000 after buying an additional 174,251 shares during the period. JPMorgan Chase & Co. increased its stake in Trane Technologies by 0.5% during the first quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock worth $5,221,599,000 after acquiring an additional 80,536 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Trane Technologies by 35,914.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after purchasing an additional 1,640,569 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Trane Technologies by 1.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,438,515 shares of the company’s stock valued at $559,194,000 after purchasing an additional 18,403 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Trane Technologies by 0.3% during the 2nd quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock worth $357,043,000 after purchasing an additional 2,898 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of TT stock opened at $414.88 on Tuesday. The firm has a fifty day moving average of $382.76 and a two-hundred day moving average of $350.45. The firm has a market cap of $93.36 billion, a P/E ratio of 38.49, a P/E/G ratio of 2.60 and a beta of 1.02. Trane Technologies plc has a 1-year low of $221.22 and a 1-year high of $416.86. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data 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. The firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. Trane Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.79 earnings per share. As a group, research analysts anticipate that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced 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 of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.81%. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Robert W. Baird reduced their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Royal Bank of Canada upped their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Stephens reissued an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Barclays raised their target price on Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. One investment 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $380.15.

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.