Trane Technologies plc (NYSE:TT) Shares Sold by AMG National Trust Bank

AMG National Trust Bank trimmed its holdings in Trane Technologies plc (NYSE:TT) by 1.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,700 shares of the company’s stock after selling 200 shares during the period. AMG National Trust Bank’s holdings in Trane Technologies were worth $4,159,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TT. International Assets Investment Management LLC grew its stake in shares of Trane Technologies by 35,914.4% in the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after buying an additional 1,640,569 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in Trane Technologies by 1.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,438,515 shares of the company’s stock valued at $559,194,000 after acquiring an additional 18,403 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Trane Technologies by 0.3% during the second quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock valued at $357,043,000 after purchasing an additional 2,898 shares during the period. Raymond James & Associates lifted its position in shares of Trane Technologies by 3.1% during the third quarter. Raymond James & Associates now owns 1,076,484 shares of the company’s stock worth $418,462,000 after purchasing an additional 32,079 shares in the last quarter. Finally, Swedbank AB boosted its stake in shares of Trane Technologies by 2.8% in the third quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after purchasing an additional 20,400 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TT has been the topic of several analyst reports. Stephens reaffirmed an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird reduced their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. UBS Group began coverage on shares of Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price target on the stock. Finally, Royal Bank of Canada boosted their price objective on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $389.77.

Trane Technologies Price Performance

Shares of TT opened at $407.49 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 stock has a fifty day moving average price of $388.09 and a 200 day moving average price of $353.31. The company has a market cap of $91.69 billion, a P/E ratio of 37.80, a PEG ratio of 2.58 and a beta of 1.02. Trane Technologies plc has a 12 month low of $221.22 and a 12 month high of $421.78.

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

Trane Technologies Announces Dividend

The company 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 $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.82%. Trane Technologies’s dividend payout ratio (DPR) is currently 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.