Trane Technologies plc (NYSE:TT) Shares Sold by Cynosure Group LLC

Cynosure Group LLC reduced its stake in Trane Technologies plc (NYSE:TT) by 11.4% in the third quarter, HoldingsChannel.com reports. The fund owned 992 shares of the company’s stock after selling 128 shares during the quarter. Cynosure Group LLC’s holdings in Trane Technologies were worth $386,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. MidAtlantic Capital Management Inc. acquired a new position in Trane Technologies during the 3rd quarter valued at approximately $27,000. DT Investment Partners LLC acquired a new position in shares of Trane Technologies during the third quarter valued at $36,000. Fortitude Family Office LLC increased its holdings in shares of Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after acquiring an additional 43 shares during the period. Triad Wealth Partners LLC bought a new stake in Trane Technologies in the 2nd quarter valued at about $39,000. Finally, Quarry LP acquired a new stake in shares of Trane Technologies in the second quarter valued at approximately $39,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Trading Down 0.7 %

Shares of NYSE TT opened at $416.09 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 12 month low of $221.22 and a 12 month high of $422.00. The company has a market cap of $93.63 billion, a price-to-earnings ratio of 38.60, a P/E/G ratio of 2.62 and a beta of 1.02. The business has a fifty day simple moving average of $396.69 and a 200-day simple moving average of $358.08.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. The firm had revenue of $5.44 billion for 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 company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.79 EPS. Sell-side analysts predict that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TT shares. Morgan Stanley started coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. Stephens restated an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. Mizuho increased their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Robert W. Baird reduced their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, Royal Bank of Canada raised 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average price target 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.