Eventide Asset Management LLC Sells 200,095 Shares of Trane Technologies plc (NYSE:TT)

Eventide Asset Management LLC trimmed its holdings in Trane Technologies plc (NYSE:TT) by 24.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 605,407 shares of the company’s stock after selling 200,095 shares during the period. Trane Technologies comprises about 4.1% of Eventide Asset Management LLC’s investment portfolio, making the stock its largest holding. Eventide Asset Management LLC owned about 0.27% of Trane Technologies worth $235,340,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Trane Technologies by 10.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 3,501 shares of the company’s stock valued at $1,051,000 after buying an additional 335 shares during the period. Cetera Investment Advisers lifted its position in Trane Technologies by 359.8% in the 1st quarter. Cetera Investment Advisers now owns 53,323 shares of the company’s stock valued at $16,008,000 after acquiring an additional 41,727 shares in the last quarter. Cetera Advisors LLC boosted its stake in Trane Technologies by 85.0% in the 1st quarter. Cetera Advisors LLC now owns 14,142 shares of the company’s stock worth $4,245,000 after purchasing an additional 6,498 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Trane Technologies by 8.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 928 shares of the company’s stock worth $295,000 after purchasing an additional 72 shares in the last quarter. Finally, HM Payson & Co. raised its stake in shares of Trane Technologies by 4.6% in the 1st quarter. HM Payson & Co. now owns 9,182 shares of the company’s stock valued at $2,756,000 after purchasing an additional 400 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TT. Morgan Stanley began coverage on Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective for the company. Royal Bank of Canada upped their price target on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. The Goldman Sachs Group increased their target price on shares of 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 lowered their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $397.64.

Trane Technologies Trading Down 0.7 %

Trane Technologies stock opened at $416.09 on Friday. 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 stock has a 50-day simple moving average of $397.38 and a 200 day simple moving average of $358.48. The stock has a market capitalization of $93.63 billion, a P/E ratio of 38.60, a PEG ratio of 2.52 and a beta of 1.02. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $422.00.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share 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 for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the previous year, the firm earned $2.79 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. Analysts expect that Trane Technologies plc will post 11.14 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business 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 dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s payout ratio 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.