Los Angeles Capital Management LLC Cuts Position in Trane Technologies plc (NYSE:TT)

Los Angeles Capital Management LLC reduced its stake in Trane Technologies plc (NYSE:TT - Free Report) by 25.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 488,411 shares of the company's stock after selling 168,721 shares during the period. Trane Technologies makes up about 0.8% of Los Angeles Capital Management LLC's holdings, making the stock its 24th largest holding. Los Angeles Capital Management LLC owned 0.22% of Trane Technologies worth $189,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in TT. DT Investment Partners LLC purchased a new stake in Trane Technologies in the 3rd quarter worth approximately $36,000. Fortitude Family Office LLC boosted its stake in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company's stock valued at $37,000 after buying an additional 43 shares during the period. Triad Wealth Partners LLC purchased a new position in Trane Technologies during the second quarter worth about $39,000. Quarry LP bought a new position in Trane Technologies in the 2nd quarter worth about $39,000. Finally, Pittenger & Anderson Inc. bought a new stake in shares of Trane Technologies during the 3rd quarter valued at about $39,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 3.7 %

Shares of TT traded up $14.66 during mid-day trading on Friday, hitting $410.58. 1,528,289 shares of the company's stock traded hands, compared to its average volume of 1,209,677. 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 firm has a market capitalization of $92.39 billion, a P/E ratio of 38.09, a PEG ratio of 2.48 and a beta of 1.02. The business's 50-day moving average price is $381.70 and its 200-day moving average price is $349.27. Trane Technologies plc has a 1 year low of $220.62 and a 1 year high of $413.74.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS 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 analyst estimates of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company's revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.79 EPS. As a group, sell-side analysts forecast that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced 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. 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 dividend payout ratio (DPR) is 31.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the company an "underweight" rating in a research note on Monday, October 7th. Robert W. Baird lowered their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a "neutral" rating on the stock in a research report on Thursday, October 31st. Hsbc Global Res downgraded shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 31st. Morgan Stanley began coverage on 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, The Goldman Sachs Group upped their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of "Hold" and an average target price of $380.15.

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.