Trane Technologies plc $TT Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its holdings in shares of Trane Technologies plc (NYSE:TT) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 340,546 shares of the company’s stock after selling 12,532 shares during the quarter. Envestnet Asset Management Inc. owned 0.15% of Trane Technologies worth $143,697,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Trane Technologies by 1.7% in the second quarter. Vanguard Group Inc. now owns 19,792,410 shares of the company’s stock worth $8,657,398,000 after buying an additional 335,634 shares during the last quarter. State Street Corp grew its holdings in Trane Technologies by 0.3% during the 2nd quarter. State Street Corp now owns 10,077,267 shares of the company’s stock worth $4,407,904,000 after acquiring an additional 31,826 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Trane Technologies by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,973,217 shares of the company’s stock valued at $2,164,764,000 after purchasing an additional 56,293 shares in the last quarter. Norges Bank bought a new position in shares of Trane Technologies during the second quarter worth about $1,356,065,000. Finally, Nordea Investment Management AB grew its stake in Trane Technologies by 2.4% in the third quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock worth $1,051,049,000 after purchasing an additional 57,774 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

Shares of TT opened at $455.35 on Friday. The company has a market cap of $100.97 billion, a price-to-earnings ratio of 35.08, a price-to-earnings-growth ratio of 2.30 and a beta of 1.21. The firm has a fifty day moving average of $398.25 and a 200-day moving average of $414.80. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating the consensus estimate of $2.81 by $0.05. The company had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. Trane Technologies’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.61 earnings per share. As a group, equities analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a dividend of $1.05 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s payout ratio is presently 28.97%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TT shares. Royal Bank Of Canada upped their price objective on Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. UBS Group dropped their price target on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Melius Research upgraded Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective on the stock in a research note on Wednesday, January 7th. JPMorgan Chase & Co. boosted their target price on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Finally, Oppenheimer increased their target price on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $484.67.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.