Northwest & Ethical Investments L.P. Lowers Holdings in Trane Technologies plc (NYSE:TT)

by · The Cerbat Gem

Northwest & Ethical Investments L.P. reduced its position in shares of Trane Technologies plc (NYSE:TT – Free Report) by 16.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 67,588 shares of the company’s stock after selling 12,916 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Trane Technologies were worth $26,273,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new position in shares of Trane Technologies during the third quarter valued at $27,000. DT Investment Partners LLC bought a new stake in shares of Trane Technologies in the third quarter valued at about $36,000. Pittenger & Anderson Inc. bought a new stake in shares of Trane Technologies in the third quarter valued at about $39,000. Fortitude Family Office LLC raised its holdings in shares of Trane Technologies by 63.2% in the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after acquiring an additional 43 shares in the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in shares of Trane Technologies in the second quarter valued at about $39,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Performance

NYSE:TT traded down $3.05 during trading hours on Thursday, reaching $416.09. The company had a trading volume of 889,240 shares, compared to its average volume of 1,116,844. Trane Technologies plc has a 1-year low of $221.22 and a 1-year high of $422.00. The firm has a market cap of $93.63 billion, a PE ratio of 38.60, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The business’s 50 day moving average price is $396.69 and its 200-day moving average price is $358.08. 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 (NYSE:TT – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the previous year, the company posted $2.79 earnings per share. Trane Technologies’s revenue for the quarter was up 10.0% on a year-over-year basis. Research analysts forecast that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TT. Northcoast Research initiated coverage on Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective for the company. UBS Group started coverage on Trane Technologies in a research note on Wednesday, November 13th. They set a “buy” rating and a $500.00 price target on the stock. Royal Bank of Canada boosted their price target on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Stephens restated an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Finally, The Goldman Sachs Group boosted 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and an average price target of $397.64.

Get Our Latest Analysis on Trane Technologies

About Trane Technologies

(Free Report)

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.

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