Trane Technologies plc (NYSE:TT) Shares Sold by Birchcreek Wealth Management LLC

Birchcreek Wealth Management LLC cut its stake in Trane Technologies plc (NYSE:TT) by 9.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,541 shares of the company’s stock after selling 168 shares during the quarter. Birchcreek Wealth Management LLC’s holdings in Trane Technologies were worth $599,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TT. Empowered Funds LLC boosted its stake in shares of Trane Technologies by 2.2% in the 3rd quarter. Empowered Funds LLC now owns 21,034 shares of the company’s stock valued at $8,177,000 after buying an additional 443 shares during the period. King Wealth Management Group purchased a new stake in Trane Technologies during the third quarter worth approximately $1,879,000. CIBC Asset Management Inc lifted its stake in Trane Technologies by 8.0% in the third quarter. CIBC Asset Management Inc now owns 32,942 shares of the company’s stock valued at $12,806,000 after buying an additional 2,452 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co acquired a new position in shares of Trane Technologies in the third quarter valued at approximately $657,000. Finally, ING Groep NV increased its holdings in shares of Trane Technologies by 72.3% in the third quarter. ING Groep NV now owns 255,681 shares of the company’s stock valued at $99,391,000 after purchasing an additional 107,323 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

TT traded down $4.98 during trading hours on Friday, hitting $405.14. The company’s stock had a trading volume of 19,139 shares, compared to its average volume of 1,112,354. Trane Technologies plc has a fifty-two week low of $221.22 and a fifty-two week 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 firm has a market capitalization of $91.16 billion, a PE ratio of 38.05, a PEG ratio of 2.63 and a beta of 1.02. The company has a 50-day simple moving average of $386.78 and a 200 day simple moving average of $352.06.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. The firm 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 business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.79 EPS. As a group, sell-side analysts expect that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 annualized dividend and a yield of 0.83%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. UBS Group assumed coverage on Trane Technologies in a research report on Wednesday. They set a “buy” rating and a $500.00 target price on the stock. Stephens restated an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. The Goldman Sachs Group upped their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Mizuho increased their target price on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. One research 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 MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $389.77.

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.