KCM Investment Advisors LLC Sells 1,575 Shares of Trane Technologies plc (NYSE:TT)

KCM Investment Advisors LLC lowered its stake in Trane Technologies plc (NYSE:TT - Free Report) by 1.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,831 shares of the company's stock after selling 1,575 shares during the period. Trane Technologies makes up approximately 1.3% of KCM Investment Advisors LLC's holdings, making the stock its 20th biggest position. KCM Investment Advisors LLC's holdings in Trane Technologies were worth $39,585,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of TT. Vanguard Group Inc. increased its stake in Trane Technologies by 0.9% during the first quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company's stock valued at $5,670,032,000 after acquiring an additional 174,251 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Trane Technologies by 0.5% during the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company's stock worth $5,221,599,000 after buying an additional 80,536 shares during the period. International Assets Investment Management LLC boosted its stake 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 valued at $639,514,000 after purchasing an additional 1,640,569 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Trane Technologies by 1.3% during 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 during the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Trane Technologies by 0.3% in the second quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company's stock valued at $357,043,000 after acquiring an additional 2,898 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Trading Down 0.6 %

TT traded down $2.52 during mid-day trading on Friday, hitting $407.60. The stock had a trading volume of 958,443 shares, compared to its average volume of 1,116,585. The stock's fifty day simple moving average is $386.78 and its 200-day simple moving average is $352.06. The firm has a market capitalization of $91.72 billion, a price-to-earnings ratio of 38.05, a price-to-earnings-growth ratio of 2.63 and a beta of 1.02. Trane Technologies plc has a 1-year low of $221.22 and a 1-year high of $421.78. 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period in the previous year, the firm earned $2.79 EPS. Trane Technologies's quarterly revenue was up 10.0% compared to the same quarter last year. As a group, research analysts forecast that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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 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 0.82%. Trane Technologies's payout ratio is presently 31.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TT. Barclays increased their price objective on shares of Trane Technologies from $425.00 to $440.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. The Goldman Sachs Group raised their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. Stephens reaffirmed an "equal weight" rating and set a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. UBS Group initiated coverage on Trane Technologies in a research report on Wednesday. They issued a "buy" rating and a $500.00 price objective on the stock. Finally, Royal Bank of Canada upped their price target on Trane Technologies from $334.00 to $350.00 and gave the company a "sector perform" rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $389.77.

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.