OVERSEA CHINESE BANKING Corp Ltd Sells 15,000 Shares of Trane Technologies plc (NYSE:TT)

OVERSEA CHINESE BANKING Corp Ltd reduced its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 50.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,000 shares of the company's stock after selling 15,000 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Trane Technologies were worth $5,831,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Harbour Investments Inc. increased its stake in Trane Technologies by 47.0% in the third quarter. Harbour Investments Inc. now owns 920 shares of the company's stock valued at $358,000 after purchasing an additional 294 shares during the period. Entropy Technologies LP boosted its holdings in shares of Trane Technologies by 32.7% in the third quarter. Entropy Technologies LP now owns 10,538 shares of the company's stock valued at $4,096,000 after acquiring an additional 2,595 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of Trane Technologies by 45.3% in the third quarter. Apollon Wealth Management LLC now owns 8,630 shares of the company's stock valued at $3,355,000 after acquiring an additional 2,691 shares in the last quarter. tru Independence LLC boosted its holdings in shares of Trane Technologies by 4.2% in the third quarter. tru Independence LLC now owns 863 shares of the company's stock valued at $335,000 after acquiring an additional 35 shares in the last quarter. Finally, Addison Advisors LLC boosted its holdings in shares of Trane Technologies by 4.9% in the third quarter. Addison Advisors LLC now owns 839 shares of the company's stock valued at $326,000 after acquiring an additional 39 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on TT shares. Mizuho lifted their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Stephens reissued an "equal weight" rating and set a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. Morgan Stanley assumed coverage on shares of Trane Technologies in a report on Friday, September 6th. They set an "overweight" rating and a $425.00 price objective on the stock. Robert W. Baird decreased their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Finally, HSBC downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 price objective on the stock. in a report on Thursday, October 31st. 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 stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $380.15.

Trane Technologies Stock Performance

Shares of NYSE:TT traded down $6.65 on Tuesday, reaching $408.27. 557,381 shares of the company's stock were exchanged, compared to its average volume of 1,114,351. The firm has a market capitalization of $91.87 billion, a price-to-earnings ratio of 38.49, a PEG ratio of 2.60 and a beta of 1.02. Trane Technologies plc has a fifty-two week low of $221.22 and a fifty-two week high of $416.86. The business's 50-day moving average is $382.76 and its two-hundred day moving average is $350.45. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.23 by $0.14. The firm had revenue of $5.44 billion for the quarter, compared to analysts' expectations of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. Trane Technologies's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company earned $2.79 EPS. As a group, equities research analysts forecast that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 0.82%. Trane Technologies's payout ratio is presently 31.17%.

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.