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

OneAscent Wealth Management LLC reduced its holdings in shares of Trane Technologies plc (NYSE:TT) by 11.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TT. MidAtlantic Capital Management Inc. bought a new stake in Trane Technologies in the 3rd quarter worth approximately $27,000. DT Investment Partners LLC bought a new stake in shares of Trane Technologies in the third quarter worth $36,000. Pittenger & Anderson Inc. purchased a new stake in Trane Technologies during the third quarter valued at $39,000. Fortitude Family Office LLC lifted its holdings in Trane Technologies by 63.2% in the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after acquiring an additional 43 shares during the period. Finally, Triad Wealth Partners LLC purchased a new position in Trane Technologies in the second quarter worth about $39,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TT. Royal Bank of Canada upped their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a report on Thursday, October 31st. Morgan Stanley started coverage on shares of Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective for the company. The Goldman Sachs Group raised their target price on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Robert W. Baird cut their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus target price of $389.77.

Trane Technologies Price Performance

Shares of NYSE:TT traded up $0.64 during midday trading on Monday, reaching $408.13. 48,178 shares of the company were exchanged, compared to its average volume of 1,111,785. The stock has a market cap of $91.84 billion, a PE ratio of 37.80, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. Trane Technologies plc has a one year low of $221.22 and a one year high of $421.78. 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 business’s fifty day moving average is $388.09 and its two-hundred day moving average is $353.31.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.79 earnings per share. As a group, analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a $0.84 dividend. 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 dividend payout ratio (DPR) 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.