Trane Technologies plc (NYSE:TT) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC reduced its holdings in shares of Trane Technologies plc (NYSE:TT) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,211 shares of the company’s stock after selling 1,747 shares during the period. MetLife Investment Management LLC’s holdings in Trane Technologies were worth $24,183,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Advisors Asset Management Inc. raised its holdings in Trane Technologies by 172.2% in the first quarter. Advisors Asset Management Inc. now owns 1,791 shares of the company’s stock valued at $538,000 after acquiring an additional 1,133 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in 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 acquiring an additional 335 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Trane Technologies by 43.2% during the first quarter. Tidal Investments LLC now owns 13,791 shares of the company’s stock worth $4,140,000 after purchasing an additional 4,163 shares during the last quarter. Virtu Financial LLC boosted its position in shares of Trane Technologies by 27.0% in the 1st quarter. Virtu Financial LLC now owns 4,327 shares of the company’s stock valued at $1,299,000 after purchasing an additional 920 shares during the period. Finally, Atria Investments Inc grew its stake in Trane Technologies by 3.6% during the 1st quarter. Atria Investments Inc now owns 33,914 shares of the company’s stock worth $10,181,000 after buying an additional 1,179 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the topic of several research reports. Stephens reissued an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Northcoast Research began coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price for the company. Wells Fargo & Company lifted 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. Royal Bank of Canada upped their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley began coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target on the stock. One equities research 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 MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and an average price target of $397.64.

Trane Technologies Stock Performance

Trane Technologies stock opened at $416.09 on Thursday. The stock’s 50-day moving average is $396.69 and its 200-day moving average is $358.08. The company has a market cap of $93.63 billion, a price-to-earnings ratio of 38.60, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. Trane Technologies plc has a 12 month low of $221.22 and a 12 month high of $422.00. 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 announced its quarterly 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. The firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.79 EPS. Equities analysts anticipate that Trane Technologies plc will post 11.14 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date 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.