BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 5,725 Shares of Trane Technologies plc (NYSE:TT)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 13.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 37,770 shares of the company’s stock after selling 5,725 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Trane Technologies were worth $14,682,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Albar Capital Ltd bought a new position in Trane Technologies during the second quarter valued at about $14,556,000. GDS Wealth Management boosted its position in 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 position in Trane Technologies during the third quarter worth about $1,879,000. Gradient Investments LLC boosted its position in Trane Technologies by 7,988.0% during the second quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock worth $665,000 after purchasing an additional 1,997 shares during the period. Finally, QRG Capital Management Inc. boosted its position 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 purchasing an additional 1,554 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. UBS Group assumed coverage on shares of Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price for the company. The Goldman Sachs Group increased their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Robert W. Baird lowered their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Morgan Stanley assumed coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. Finally, Stephens restated an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. 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 company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $397.64.

Trane Technologies Trading Up 0.0 %

Shares of Trane Technologies stock opened at $416.22 on Friday. Trane Technologies plc has a 1 year low of $221.22 and a 1 year high of $422.00. The firm has a market cap of $93.66 billion, a PE ratio of 38.61, a PEG ratio of 2.52 and a beta of 1.02. 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 company has a 50 day simple moving average of $398.01 and a two-hundred day simple moving average of $359.31.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period in the previous year, the business posted $2.79 earnings per share. Trane Technologies’s revenue for the quarter was up 10.0% on a year-over-year basis. Analysts expect that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced 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 of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.81%. Trane Technologies’s payout ratio is presently 31.17%.

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.