Prospera Financial Services Inc Sells 526 Shares of Trane Technologies plc (NYSE:TT)

Prospera Financial Services Inc lessened its holdings in Trane Technologies plc (NYSE:TT) by 17.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,437 shares of the company’s stock after selling 526 shares during the quarter. Prospera Financial Services Inc’s holdings in Trane Technologies were worth $948,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TT. CreativeOne Wealth LLC bought a new position in Trane Technologies during the 1st quarter worth approximately $379,000. EP Wealth Advisors LLC raised its holdings in Trane Technologies by 9.3% during the 1st quarter. EP Wealth Advisors LLC now owns 1,452 shares of the company’s stock worth $436,000 after purchasing an additional 124 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Trane Technologies by 172.2% during the 1st quarter. Advisors Asset Management Inc. now owns 1,791 shares of the company’s stock worth $538,000 after purchasing an additional 1,133 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Trane Technologies by 7.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 140,614 shares of the company’s stock worth $42,212,000 after purchasing an additional 10,035 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in Trane Technologies by 21.5% during the 1st quarter. 1832 Asset Management L.P. now owns 5,665 shares of the company’s stock worth $1,701,000 after purchasing an additional 1,004 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TT. Stephens reaffirmed an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. UBS Group began coverage on shares of Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price objective for the company. Robert W. Baird reduced their price objective on shares of 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, Morgan Stanley began coverage on shares of Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $397.64.

Trane Technologies Price Performance

TT opened at $417.42 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The company has a market capitalization of $93.93 billion, a price-to-earnings ratio of 38.72, a P/E/G ratio of 2.62 and a beta of 1.02. The firm’s fifty day moving average price is $394.03 and its two-hundred day moving average price is $356.08. Trane Technologies plc has a 1 year low of $221.22 and a 1 year high of $421.78.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.79 EPS. As a group, analysts anticipate that Trane Technologies plc will post 11.14 earnings per share for the current fiscal 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 paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio is currently 31.17%.

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.