Kentucky Retirement Systems trimmed its position in Trane Technologies plc (NYSE:TT - Free Report) by 7.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,721 shares of the company's stock after selling 1,336 shares during the period. Kentucky Retirement Systems' holdings in Trane Technologies were worth $6,111,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. DT Investment Partners LLC purchased a new position in shares of Trane Technologies in the third quarter worth about $36,000. Fortitude Family Office LLC boosted its holdings in shares of Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company's stock worth $37,000 after purchasing an additional 43 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of Trane Technologies in the second quarter valued at approximately $39,000. Quarry LP acquired a new stake in shares of Trane Technologies in the second quarter valued at approximately $39,000. Finally, Pittenger & Anderson Inc. purchased a new position in Trane Technologies during the third quarter worth approximately $39,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Wells Fargo & Company lifted their price target on Trane Technologies from $320.00 to $360.00 and gave the stock an "underweight" rating in a report on Monday, October 7th. Stephens reaffirmed an "equal weight" rating and set a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. Royal Bank of Canada increased their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the company a "sector perform" rating in a research note on Thursday, August 1st. Morgan Stanley started coverage on shares of Trane Technologies in a research report on Friday, September 6th. They set an "overweight" rating and a $425.00 price target on the stock. Finally, UBS Group assumed coverage on Trane Technologies in a report on Wednesday. They issued a "buy" rating and a $500.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $389.77.
Read Our Latest Analysis on TT
Trane Technologies Stock Down 0.6 %
Trane Technologies stock opened at $407.49 on Friday. The firm has a market capitalization of $91.69 billion, a P/E ratio of 37.80, a P/E/G ratio of 2.58 and a beta of 1.02. The stock's fifty day simple moving average is $388.09 and its 200-day simple moving average is $353.05. Trane Technologies plc has a twelve month low of $221.22 and a twelve month high of $421.78. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57.
Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion for 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 revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.79 EPS. As a group, equities analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.
Trane Technologies Announces Dividend
The company also recently declared 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. This represents a $3.36 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies's dividend payout ratio (DPR) is presently 31.17%.
About Trane Technologies
(
Free Report)
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.
Featured Articles
Before you consider Trane Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Trane Technologies wasn't on the list.
While Trane Technologies currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
