Greenwood Capital Associates LLC Sells 480 Shares of Trane Technologies plc (NYSE:TT)

by · The Cerbat Gem

Greenwood Capital Associates LLC trimmed its position in shares of Trane Technologies plc (NYSE:TT – Free Report) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,243 shares of the company’s stock after selling 480 shares during the period. Greenwood Capital Associates LLC’s holdings in Trane Technologies were worth $6,314,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. DT Investment Partners LLC bought a new stake in Trane Technologies during the third quarter worth about $36,000. Fortitude Family Office LLC boosted its holdings in shares of Trane Technologies by 63.2% in the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after buying an additional 43 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in shares of Trane Technologies during the 2nd quarter valued at $39,000. Quarry LP purchased a new stake in Trane Technologies in the second quarter worth about $39,000. Finally, Valley Wealth Managers Inc. purchased a new position in Trane Technologies during the second quarter valued at approximately $51,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the topic of several recent analyst reports. Barclays lifted their target price on Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. The Goldman Sachs Group upped their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research note on Thursday, October 31st. Wells Fargo & Company increased their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, Mizuho boosted their price objective on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and a consensus price target of $380.15.

Get Our Latest Stock Report on Trane Technologies

Insider Buying and Selling at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Trading Up 0.2 %

NYSE TT opened at $376.99 on Tuesday. Trane Technologies plc has a one year low of $214.35 and a one year high of $406.96. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The company has a market capitalization of $84.83 billion, a price-to-earnings ratio of 34.97, a price-to-earnings-growth ratio of 2.38 and a beta of 1.02. The company’s 50-day simple moving average is $378.36 and its two-hundred day simple moving average is $346.70.

Trane Technologies (NYSE:TT – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the business earned $2.79 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. Equities analysts forecast that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.89%. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

About Trane Technologies

(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.

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