Everence Capital Management Inc. Sells 3,470 Shares of Trane Technologies plc (NYSE:TT)

Everence Capital Management Inc. decreased its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 16.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,510 shares of the company's stock after selling 3,470 shares during the period. Everence Capital Management Inc.'s holdings in Trane Technologies were worth $6,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. FMR LLC increased its stake in shares of Trane Technologies by 4.0% in the third quarter. FMR LLC now owns 10,337,672 shares of the company's stock worth $4,018,563,000 after purchasing an additional 397,537 shares in the last quarter. State Street Corp increased its stake in Trane Technologies by 0.8% in the 3rd quarter. State Street Corp now owns 9,769,161 shares of the company's stock worth $3,797,565,000 after buying an additional 77,830 shares in the last quarter. Geode Capital Management LLC raised its holdings in Trane Technologies by 1.4% during the third quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company's stock valued at $1,797,700,000 after acquiring an additional 65,991 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Trane Technologies by 35.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company's stock valued at $991,460,000 after acquiring an additional 671,691 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Trane Technologies by 0.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company's stock worth $832,691,000 after acquiring an additional 20,151 shares during the period. 82.97% of the stock is owned by institutional investors.

Trane Technologies Trading Up 1.9 %

TT traded up $7.27 during trading on Friday, reaching $381.11. The company had a trading volume of 1,083,609 shares, compared to its average volume of 1,464,054. 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 business has a 50 day simple moving average of $396.71 and a 200-day simple moving average of $369.46. The stock has a market cap of $85.76 billion, a P/E ratio of 35.35, a PEG ratio of 2.38 and a beta of 1.03. Trane Technologies plc has a 52 week low of $236.33 and a 52 week high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) 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 firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter last year, the business earned $2.79 EPS. The business's revenue was up 10.0% on a year-over-year basis. On average, equities analysts anticipate that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th were issued a $0.84 dividend. The ex-dividend date was Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. Trane Technologies's payout ratio is 31.17%.

Analysts Set New Price Targets

A number of research firms recently commented on TT. Royal Bank of Canada boosted their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a report on Friday. Morgan Stanley started coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an "overweight" rating and a $425.00 target price on the stock. HSBC cut shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 target price for the company. in a research note on Thursday, October 31st. Citigroup increased their price objective on shares of Trane Technologies from $457.00 to $478.00 and gave the company a "buy" rating in a report on Monday, December 9th. Finally, Wells Fargo & Company lifted their target price on Trane Technologies from $320.00 to $360.00 and gave the stock an "underweight" rating in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Trane Technologies presently has a consensus rating of "Hold" and a consensus target price of $413.14.

Insider Buying and Selling

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the business's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the sale, the senior vice president now directly owns 12,893 shares of the company's stock, valued at $5,363,488. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is owned by corporate insiders.

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.