Kingfisher Capital LLC Lowers Stock Holdings in Trane Technologies plc (NYSE:TT)

Kingfisher Capital LLC lessened its holdings in shares of Trane Technologies plc (NYSE:TT) by 4.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,088 shares of the company’s stock after selling 441 shares during the quarter. Kingfisher Capital LLC’s holdings in Trane Technologies were worth $3,533,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Trust Point Inc. boosted its stake in shares of 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 buying an additional 27 shares during the period. First Pacific Financial increased its position in shares of Trane Technologies by 1.1% in the 3rd 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 last quarter. Wescott Financial Advisory Group LLC lifted its position 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 worth $670,000 after purchasing an additional 28 shares during the last quarter. Greenleaf Trust increased its holdings in Trane Technologies by 0.5% in the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock valued at $2,275,000 after buying an additional 29 shares during the last quarter. Finally, Lake Street Advisors Group LLC lifted its holdings in Trane Technologies by 1.6% during the 3rd quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company’s stock worth $737,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TT shares. Barclays boosted their price objective 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. Wells Fargo & Company upped their target price on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Robert W. Baird lowered their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. UBS Group initiated coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They set a “buy” rating and a $500.00 price target for the company. Finally, Royal Bank of Canada upped their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $397.64.

Trane Technologies Stock Performance

TT opened at $416.09 on Friday. Trane Technologies plc has a 1-year low of $221.22 and a 1-year high of $422.00. The stock has a market cap of $93.63 billion, a P/E ratio of 38.60, a P/E/G ratio of 2.52 and a beta of 1.02. The stock’s 50 day simple moving average is $397.38 and its 200 day simple moving average is $358.48. 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 (NYSE:TT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS 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 firm had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the prior year, the company earned $2.79 EPS. The firm’s revenue was up 10.0% on a year-over-year basis. As a group, equities analysts anticipate that Trane Technologies plc will post 11.14 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.81%. Trane Technologies’s dividend payout ratio is currently 31.17%.

Trane Technologies Company Profile

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.