Cerity Partners LLC Purchases 25,045 Shares of Trane Technologies plc (NYSE:TT)

Cerity Partners LLC lifted its position in shares of Trane Technologies plc (NYSE:TT) by 40.4% in the third quarter, HoldingsChannel reports. The fund owned 87,093 shares of the company’s stock after buying an additional 25,045 shares during the period. Cerity Partners LLC’s holdings in Trane Technologies were worth $33,856,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TT. Albar Capital Ltd bought a new position in Trane Technologies in the second quarter valued at approximately $14,556,000. GDS Wealth Management grew its stake in shares of Trane Technologies by 4.3% during the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after purchasing an additional 2,124 shares during the period. King Wealth Management Group bought a new stake in Trane Technologies in the third quarter valued at about $1,879,000. Gradient Investments LLC lifted its stake in Trane Technologies by 7,988.0% in the second quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock valued at $665,000 after buying an additional 1,997 shares during the period. Finally, QRG Capital Management Inc. boosted its holdings in Trane Technologies by 4.1% during the second quarter. QRG Capital Management Inc. now owns 39,475 shares of the company’s stock worth $12,985,000 after buying an additional 1,554 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $417.49 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The firm has a market cap of $93.94 billion, a price-to-earnings ratio of 38.73, a price-to-earnings-growth ratio of 2.63 and a beta of 1.02. Trane Technologies plc has a one year low of $221.22 and a one year high of $421.78. The stock’s 50-day moving average is $394.03 and its 200-day moving average is $356.49.

Trane Technologies (NYSE:TT) last released its quarterly 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 return on equity of 34.62% and a net margin of 12.73%. The firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the firm posted $2.79 EPS. The business’s revenue was up 10.0% on a year-over-year basis. Equities analysts predict that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.80%. Trane Technologies’s payout ratio is currently 31.17%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Royal Bank of Canada upped their price target on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Mizuho upped their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. HSBC cut 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 report on Thursday, October 31st. Robert W. Baird lowered their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group lifted 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. 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 stock. According to data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and a consensus target price of $397.64.

About Trane Technologies

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.