Trane Technologies plc (NYSE:TT) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in Trane Technologies plc (NYSE:TT - Free Report) by 9.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 189,504 shares of the company's stock after selling 20,170 shares during the period. Victory Capital Management Inc. owned 0.08% of Trane Technologies worth $73,666,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

TT has been the subject of a number of analyst reports. The Goldman Sachs Group upped their target price on Trane Technologies from $364.00 to $407.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. Wells Fargo & Company raised their price objective on Trane Technologies from $320.00 to $360.00 and gave the company an "underweight" rating in a research report on Monday, October 7th. Royal Bank of Canada raised their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the company a "sector perform" rating in a report on Thursday, August 1st. Morgan Stanley started coverage on shares of Trane Technologies in a research note on Friday, September 6th. They set an "overweight" rating and a $425.00 price objective for the company. Finally, 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 report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $389.77.

Trane Technologies Stock Performance

TT traded down $4.87 during trading on Thursday, reaching $410.13. 884,927 shares of the company's stock were exchanged, compared to its average volume of 1,117,300. 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 1 year low of $221.22 and a 1 year high of $421.78. The company's fifty day simple moving average is $385.43 and its 200-day simple moving average is $351.65. The stock has a market capitalization of $92.29 billion, a P/E ratio of 38.49, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly 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 company had revenue of $5.44 billion for 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 firm's revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.79 earnings per share. As a group, research analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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 given a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.82%. Trane Technologies's dividend payout ratio is presently 31.17%.

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.