OneAscent Wealth Management LLC Sells 299 Shares of Trane Technologies plc (NYSE:TT)

OneAscent Wealth Management LLC lowered its position in Trane Technologies plc (NYSE:TT) by 11.8% in the 3rd quarter, Holdings Channel reports. The firm owned 2,234 shares of the company’s stock after selling 299 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Trane Technologies were worth $868,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. International Assets Investment Management LLC boosted its holdings 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 purchasing an additional 1,640,569 shares during the period. Swedbank AB bought a new stake in Trane Technologies during the 1st quarter valued at $206,211,000. 1832 Asset Management L.P. lifted its holdings in shares of Trane Technologies by 7,363.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock worth $139,067,000 after buying an additional 417,120 shares during the period. Point72 Asset Management L.P. grew its position in shares of Trane Technologies by 162.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock worth $147,263,000 after buying an additional 277,274 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Trane Technologies by 1,023.0% during the second quarter. Assenagon Asset Management S.A. now owns 235,858 shares of the company’s stock valued at $77,581,000 after buying an additional 214,855 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT traded up $0.64 on Monday, hitting $408.13. 48,178 shares of the company’s stock traded hands, compared to its average volume of 1,111,785. The firm has a market capitalization of $91.84 billion, a PE ratio of 37.80, a P/E/G ratio of 2.58 and a beta of 1.02. Trane Technologies plc has a 1-year low of $221.22 and a 1-year high of $421.78. The firm’s 50-day moving average price is $388.09 and its two-hundred day moving average price is $353.31. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last issued its quarterly 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 analyst estimates of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.79 EPS. As a group, analysts expect that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

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 issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.82%. Trane Technologies’s payout ratio is currently 31.17%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TT shares. Mizuho increased their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Barclays lifted their price objective on shares of Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research report on Thursday, October 31st. Finally, Stephens reissued an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and an average price target of $389.77.

Trane Technologies 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.