Trane Technologies plc (NYSE:TT) Shares Sold by NorthRock Partners LLC

by · The Markets Daily

NorthRock Partners LLC lessened its stake in Trane Technologies plc (NYSE:TT – Free Report) by 33.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 577 shares of the company’s stock after selling 288 shares during the quarter. NorthRock Partners LLC’s holdings in Trane Technologies were worth $224,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in TT. Empowered Funds LLC grew its holdings in Trane Technologies by 138.0% during the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock worth $2,001,000 after acquiring an additional 3,866 shares in the last quarter. Sei Investments Co. increased its holdings in Trane Technologies by 379.2% in the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock valued at $91,909,000 after buying an additional 242,271 shares during the last quarter. Albar Capital Ltd acquired a new stake in Trane Technologies in the second quarter valued at $14,556,000. M&G Plc purchased a new stake in Trane Technologies during the 1st quarter worth about $8,939,000. Finally, Gradient Investments LLC boosted its position in shares of Trane Technologies by 7,988.0% during the 2nd quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock worth $665,000 after acquiring an additional 1,997 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TT shares. Barclays raised their target price on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Royal Bank of Canada increased their target price 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. Wells Fargo & Company boosted their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Finally, HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $380.15.

Check Out Our Latest Research Report on Trane Technologies

Trane Technologies Stock Performance

NYSE:TT opened at $391.88 on Thursday. The firm has a market cap of $88.18 billion, a price-to-earnings ratio of 36.35, a price-to-earnings-growth ratio of 2.39 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies plc has a 1-year low of $214.35 and a 1-year high of $406.96. The firm’s fifty day moving average price is $379.11 and its 200 day moving average price is $347.42.

Trane Technologies (NYSE:TT – Get Free Report) last issued its quarterly earnings results 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. 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 business’s revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.79 earnings per share. On average, sell-side analysts expect that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Trane Technologies Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding TT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trane Technologies plc (NYSE:TT – Free Report).