Trane Technologies plc (NYSE:TT) Stake Trimmed by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 6.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,943 shares of the company's stock after selling 7,925 shares during the quarter. Thrivent Financial for Lutherans owned about 0.05% of Trane Technologies worth $45,849,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TT. DT Investment Partners LLC acquired a new stake in Trane Technologies during the 3rd quarter worth $36,000. Fortitude Family Office LLC raised its stake in 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 acquiring an additional 43 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in Trane Technologies during the 2nd quarter worth $39,000. Quarry LP acquired a new stake in Trane Technologies during the 2nd quarter worth $39,000. Finally, Pittenger & Anderson Inc. acquired a new stake in Trane Technologies during the 3rd quarter worth $39,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TT. HSBC lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 price objective on the stock. in a research note on Thursday, October 31st. Stephens reaffirmed an "equal weight" rating and set a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Mizuho increased their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Robert W. Baird lowered their price target on shares of Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. Finally, Barclays raised their price objective on Trane Technologies from $425.00 to $440.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. One research 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's stock. According to data from MarketBeat, Trane Technologies presently has a consensus rating of "Hold" and an average price target of $389.77.

Trane Technologies Stock Performance

Shares of TT traded up $4.00 during trading hours on Tuesday, reaching $413.27. 382,557 shares of the company's stock traded hands, compared to its average volume of 1,112,348. The firm has a market capitalization of $92.99 billion, a price-to-earnings ratio of 38.01, a P/E/G ratio of 2.58 and a beta of 1.02. 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 plc has a twelve month low of $221.22 and a twelve month high of $421.78. The business's fifty day simple moving average is $389.37 and its two-hundred day simple moving average is $353.97.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.23 by $0.14. The firm 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 was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.79 earnings per share. Analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently announced 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. This represents a $3.36 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies's payout ratio is currently 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.