Quadrature Capital Ltd Sells 23,372 Shares of Trane Technologies plc (NYSE:TT)

Quadrature Capital Ltd trimmed its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 90.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,404 shares of the company's stock after selling 23,372 shares during the quarter. Quadrature Capital Ltd's holdings in Trane Technologies were worth $934,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of TT. MidAtlantic Capital Management Inc. bought a new stake in shares of Trane Technologies in the 3rd quarter valued at approximately $27,000. DT Investment Partners LLC acquired a new stake in Trane Technologies during the third quarter worth about $36,000. Pittenger & Anderson Inc. bought a new position in Trane Technologies in the third quarter worth about $39,000. Triad Wealth Partners LLC acquired a new position in Trane Technologies in the second quarter valued at approximately $39,000. Finally, Quarry LP bought a new position in shares of Trane Technologies during the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Activity

In other news, SVP Mairead Magner sold 4,329 shares of the firm's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.38% of the company's stock.

Trane Technologies Stock Down 0.5 %

Shares of TT stock traded down $2.04 during trading on Friday, hitting $412.18. 952,323 shares of the company were exchanged, compared to its average volume of 1,102,031. The firm has a market capitalization of $92.75 billion, a price-to-earnings ratio of 38.24, a P/E/G ratio of 2.53 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The business's 50-day simple moving average is $400.85 and its 200 day simple moving average is $362.24. Trane Technologies plc has a twelve month low of $229.07 and a twelve month high of $422.00.

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

Trane Technologies Dividend Announcement

The business 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. 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 dividend payout ratio (DPR) is presently 31.17%.

Analysts Set New Price Targets

Several equities analysts have recently commented on TT shares. Barclays upped their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an "overweight" rating in a research report on Thursday. HSBC lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 price target on the stock. in a research note on Thursday, October 31st. Northcoast Research initiated coverage on Trane Technologies in a research report on Friday, November 22nd. They set a "buy" rating and a $500.00 price objective for the company. Robert W. Baird cut their target price on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating on the stock in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group increased their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $401.93.

Trane Technologies Company 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.