GSA Capital Partners LLP Reduces Position in Trane Technologies plc (NYSE:TT)

GSA Capital Partners LLP trimmed its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 67.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,609 shares of the company's stock after selling 3,272 shares during the period. GSA Capital Partners LLP's holdings in Trane Technologies were worth $625,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in TT. Trust Point Inc. raised its position in shares of Trane Technologies by 3.1% during the 3rd quarter. Trust Point Inc. now owns 897 shares of the company's stock worth $349,000 after purchasing an additional 27 shares during the period. First Pacific Financial lifted its holdings in shares of Trane Technologies by 1.1% during the third quarter. First Pacific Financial now owns 2,674 shares of the company's stock valued at $1,039,000 after purchasing an additional 28 shares during the last quarter. Greenleaf Trust boosted its holdings in shares of Trane Technologies by 0.5% during the third quarter. Greenleaf Trust now owns 5,852 shares of the company's stock worth $2,275,000 after purchasing an additional 29 shares during the period. Lake Street Advisors Group LLC increased its holdings in Trane Technologies by 1.6% in the third quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company's stock worth $737,000 after buying an additional 30 shares during the last quarter. Finally, PFG Private Wealth Management LLC lifted its stake in shares of Trane Technologies by 4.7% in the second quarter. PFG Private Wealth Management LLC now owns 706 shares of the company's stock worth $232,000 after buying an additional 32 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

Trane Technologies stock traded up $3.76 during midday trading on Tuesday, hitting $413.03. The stock had a trading volume of 751,306 shares, compared to its average volume of 1,114,067. The company has a market capitalization of $92.94 billion, a PE ratio of 38.01, a P/E/G ratio of 2.58 and a beta of 1.02. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The firm's fifty day moving average is $389.37 and its two-hundred day moving average is $353.97. Trane Technologies plc has a 52-week low of $221.22 and a 52-week high of $421.78.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $2.79 earnings per share. On average, research analysts forecast that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have weighed in on TT. The Goldman Sachs Group lifted their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. Barclays increased their price objective on shares of Trane Technologies from $425.00 to $440.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. Royal Bank of Canada boosted 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, Robert W. Baird dropped their target price on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $389.77.

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.