Trane Technologies plc (NYSE:TT) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 0.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,036,046 shares of the company’s stock after selling 13,794 shares during the period. Fisher Asset Management LLC owned about 0.90% of Trane Technologies worth $791,473,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Trust Point Inc. raised its holdings in Trane Technologies by 3.1% in the 3rd quarter. Trust Point Inc. now owns 897 shares of the company’s stock valued at $349,000 after acquiring an additional 27 shares during the last quarter. First Pacific Financial grew its holdings in Trane Technologies by 1.1% in the third quarter. First Pacific Financial now owns 2,674 shares of the company’s stock valued at $1,039,000 after purchasing an additional 28 shares during the period. Wescott Financial Advisory Group LLC grew its stake in shares of Trane Technologies by 1.7% during the 3rd quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock valued at $670,000 after buying an additional 28 shares during the period. Greenleaf Trust increased its holdings in shares of Trane Technologies by 0.5% during the 3rd quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock worth $2,275,000 after buying an additional 29 shares during the last quarter. Finally, Lake Street Advisors Group LLC boosted its holdings in Trane Technologies by 1.6% in the third 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. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TT shares. Barclays increased their target price on shares of Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Northcoast Research assumed coverage on Trane Technologies in a research report on Friday. They set a “buy” rating and a $500.00 target price on the stock. Robert W. Baird dropped 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. Royal Bank of Canada lifted their price target on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Finally, Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and a consensus price target of $397.64.

Trane Technologies Trading Up 0.5 %

Shares of NYSE:TT opened at $417.49 on Monday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average price is $394.03 and its 200 day moving average price is $356.49. The company has a market cap of $93.94 billion, a PE ratio of 38.73, a P/E/G ratio of 2.64 and a beta of 1.02. Trane Technologies plc has a fifty-two week low of $221.22 and a fifty-two week high of $421.78.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. 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 prior year, the company posted $2.79 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. Sell-side analysts anticipate that Trane Technologies plc will post 11.14 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is 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.