Birchcreek Wealth Management LLC Sells 168 Shares of Trane Technologies plc (NYSE:TT)

Birchcreek Wealth Management LLC cut its stake in Trane Technologies plc (NYSE:TT) by 9.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,541 shares of the company’s stock after selling 168 shares during the period. Birchcreek Wealth Management LLC’s holdings in Trane Technologies were worth $599,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of TT. Empowered Funds LLC raised its stake in shares of Trane Technologies by 2.2% during the third quarter. Empowered Funds LLC now owns 21,034 shares of the company’s stock worth $8,177,000 after buying an additional 443 shares during the last quarter. King Wealth Management Group acquired a new position in shares of Trane Technologies in the third quarter valued at approximately $1,879,000. CIBC Asset Management Inc boosted its holdings in Trane Technologies by 8.0% during the third quarter. CIBC Asset Management Inc now owns 32,942 shares of the company’s stock worth $12,806,000 after purchasing an additional 2,452 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co bought a new stake in Trane Technologies during the third quarter worth $657,000. Finally, ING Groep NV raised its position in shares of Trane Technologies by 72.3% in the third quarter. ING Groep NV now owns 255,681 shares of the company’s stock valued at $99,391,000 after purchasing an additional 107,323 shares during the period. 82.97% of the stock is owned by institutional investors.

Trane Technologies Price Performance

Shares of NYSE TT traded down $4.98 during midday trading on Friday, hitting $405.14. 19,139 shares of the company’s stock were exchanged, compared to its average volume of 1,112,354. Trane Technologies plc has a 12-month low of $221.22 and a 12-month high of $421.78. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The company has a market cap of $91.16 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 2.63 and a beta of 1.02. The business’s fifty day moving average price is $386.78 and its two-hundred day moving average price is $352.06.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. Trane Technologies’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.79 earnings per share. As a group, research analysts forecast that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.83%. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

Analyst Upgrades and Downgrades

TT has been the topic of several research reports. UBS Group initiated coverage on shares of Trane Technologies in a research note on Wednesday. They issued a “buy” rating and a $500.00 price target on the stock. Wells Fargo & Company upped their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. The Goldman Sachs Group upped their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Morgan Stanley began 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 on the stock. Finally, Robert W. Baird dropped their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $389.77.

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.