Bank of Montreal Can Sells 10,156 Shares of Trane Technologies plc (NYSE:TT)

by · The Markets Daily

Bank of Montreal Can cut its holdings in shares of Trane Technologies plc (NYSE:TT – Free Report) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 393,492 shares of the company’s stock after selling 10,156 shares during the quarter. Bank of Montreal Can owned 0.17% of Trane Technologies worth $151,081,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new stake in Trane Technologies in the third quarter worth $27,000. DT Investment Partners LLC purchased a new position in shares of Trane Technologies in the third quarter worth about $36,000. Pittenger & Anderson Inc. bought a new stake in shares of Trane Technologies in the 3rd quarter valued at about $39,000. Fortitude Family Office LLC boosted its holdings 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 acquiring an additional 43 shares during the period. Finally, Triad Wealth Partners LLC bought a new position in Trane Technologies during the 2nd quarter worth approximately $39,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Price Performance

Shares of TT stock opened at $413.32 on Tuesday. The business’s fifty day moving average is $394.91 and its 200 day moving average is $357.06. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The stock has a market cap of $93.01 billion, a price-to-earnings ratio of 38.34, a PEG ratio of 2.64 and a beta of 1.02. Trane Technologies plc has a twelve month low of $221.22 and a twelve month high of $422.00.

Trane Technologies (NYSE:TT – Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the prior year, the firm earned $2.79 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. Research analysts expect that Trane Technologies plc will post 11.14 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on TT. UBS Group began coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price on the stock. The Goldman Sachs Group boosted their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Northcoast Research began coverage on shares of Trane Technologies in a report on Friday. They set a “buy” rating and a $500.00 target price for the company. Wells Fargo & Company boosted their price target on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, Mizuho upped their price target on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $397.64.

View Our Latest Research Report 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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