OneAscent Financial Services LLC Decreases Stock Position in Trane Technologies plc (NYSE:TT)

OneAscent Financial Services LLC lessened its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 42.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,262 shares of the company's stock after selling 1,651 shares during the period. OneAscent Financial Services LLC's holdings in Trane Technologies were worth $879,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. International Assets Investment Management LLC boosted its position in 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 buying an additional 1,640,569 shares during the period. Swedbank AB acquired a new stake in Trane Technologies during the 1st quarter worth $206,211,000. 1832 Asset Management L.P. increased its stake in Trane Technologies by 7,363.1% in the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company's stock valued at $139,067,000 after purchasing an additional 417,120 shares during the period. Point72 Asset Management L.P. increased its stake in Trane Technologies by 162.7% in the second quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company's stock valued at $147,263,000 after purchasing an additional 277,274 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Trane Technologies by 1,023.0% in the second quarter. Assenagon Asset Management S.A. now owns 235,858 shares of the company's stock valued at $77,581,000 after purchasing an additional 214,855 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TT. Hsbc Global Res downgraded shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 31st. UBS Group began coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They issued a "buy" rating and a $500.00 target price on the stock. Barclays lifted their target price 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. The Goldman Sachs Group lifted their target price 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. Finally, Wells Fargo & Company boosted their price objective on shares of 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 assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $389.77.

Trane Technologies Price Performance

Shares of NYSE TT traded up $3.78 on Tuesday, hitting $413.05. The company's stock had a trading volume of 758,265 shares, compared to its average volume of 1,114,098. The stock has a 50 day moving average of $390.71 and a 200-day moving average of $354.63. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The company has a market capitalization of $92.94 billion, a price-to-earnings ratio of 38.32, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. Trane Technologies plc has a 12-month low of $221.22 and a 12-month high of $421.78.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 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 in the prior year, the business posted $2.79 earnings per share. Trane Technologies's revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, research analysts predict that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.81%. Trane Technologies's dividend payout ratio is currently 31.17%.

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.