Oak Harbor Wealth Partners LLC Lowers Stake in Trane Technologies plc (NYSE:TT)

Oak Harbor Wealth Partners LLC lessened its position in shares of Trane Technologies plc (NYSE:TT) by 13.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,583 shares of the company’s stock after selling 387 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Trane Technologies were worth $1,004,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Trust Point Inc. lifted its stake in shares of Trane Technologies by 3.1% during the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock worth $349,000 after purchasing an additional 27 shares in the last quarter. First Pacific Financial lifted its stake in shares of Trane Technologies by 1.1% in the third quarter. First Pacific Financial now owns 2,674 shares of the company’s stock worth $1,039,000 after acquiring an additional 28 shares in the last quarter. Greenleaf Trust lifted its stake in shares of Trane Technologies by 0.5% in the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock worth $2,275,000 after acquiring an additional 29 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in shares of Trane Technologies by 1.6% in the third quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company’s stock worth $737,000 after acquiring an additional 30 shares in the last quarter. Finally, PFG Private Wealth Management LLC lifted its stake in shares of Trane Technologies by 4.7% in the second quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock worth $232,000 after acquiring an additional 32 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Down 1.2 %

TT opened at $410.13 on Friday. Trane Technologies plc has a 12 month low of $221.22 and a 12 month high of $421.78. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The stock has a market cap of $92.29 billion, a P/E ratio of 38.05, a P/E/G ratio of 2.63 and a beta of 1.02. The stock’s 50 day moving average price is $385.43 and its 200 day moving average price is $351.65.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the firm earned $2.79 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. As a group, research analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Announces Dividend

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 given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio is currently 31.17%.

Analyst Ratings Changes

Several research analysts recently commented on the company. UBS Group began coverage on Trane Technologies in a research note on Wednesday. They issued a “buy” rating and a $500.00 price target on the stock. The Goldman Sachs Group boosted their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a report on Thursday, October 31st. Stephens reissued an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. Finally, Wells Fargo & Company boosted their price objective on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus target price of $389.77.

Trane Technologies 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.