One Plus One Wealth Management LLC Cuts Stock Position in Trane Technologies plc (NYSE:TT)

One Plus One Wealth Management LLC decreased its stake in shares of Trane Technologies plc (NYSE:TT) by 11.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,065 shares of the company’s stock after selling 131 shares during the quarter. One Plus One Wealth Management LLC’s holdings in Trane Technologies were worth $414,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TT. Trust Point Inc. boosted its stake in Trane Technologies by 3.1% during the 3rd quarter. Trust Point Inc. now owns 897 shares of the company’s stock worth $349,000 after purchasing an additional 27 shares during the period. First Pacific Financial grew its holdings in shares of Trane Technologies by 1.1% during the third quarter. First Pacific Financial now owns 2,674 shares of the company’s stock worth $1,039,000 after buying an additional 28 shares during the last quarter. Greenleaf Trust increased its position in Trane Technologies by 0.5% in the 3rd quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock valued at $2,275,000 after acquiring an additional 29 shares during the period. Lake Street Advisors Group LLC raised its stake in Trane Technologies by 1.6% during the 3rd quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company’s stock valued at $737,000 after acquiring an additional 30 shares during the last quarter. Finally, PFG Private Wealth Management LLC lifted its position in Trane Technologies by 4.7% during the 2nd quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock worth $232,000 after acquiring an additional 32 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TT. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a research note on Thursday, October 31st. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Mizuho increased their price target 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. Wells Fargo & Company lifted their price objective on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, Robert W. Baird cut 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and an average target price of $380.15.

Trane Technologies Stock Performance

Trane Technologies stock opened at $390.29 on Wednesday. Trane Technologies plc has a 52 week low of $214.35 and a 52 week high of $406.96. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The stock has a market cap of $87.82 billion, a P/E ratio of 36.21, a price-to-earnings-growth ratio of 2.38 and a beta of 1.02. The stock has a 50 day moving average of $379.11 and a 200-day moving average of $347.42.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The business had revenue of $5.44 billion for 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 company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.79 EPS. On average, analysts expect that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio is currently 31.17%.

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.