Freedom Investment Management Inc. Decreases Holdings in Trane Technologies plc (NYSE:TT)

Freedom Investment Management Inc. cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 7.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,052 shares of the company’s stock after selling 176 shares during the quarter. Freedom Investment Management Inc.’s holdings in Trane Technologies were worth $798,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. FMR LLC raised its stake in shares of Trane Technologies by 4.0% during the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after acquiring an additional 397,537 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after acquiring an additional 671,691 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after acquiring an additional 1,640,569 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Trane Technologies by 1.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,438,515 shares of the company’s stock worth $559,194,000 after purchasing an additional 18,403 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Trane Technologies by 0.3% in the second quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock worth $357,043,000 after purchasing an additional 2,898 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TT shares. The Goldman Sachs Group raised 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. Barclays raised their target price on shares of Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Morgan Stanley began coverage on shares of Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. Robert W. Baird dropped their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $397.64.

Trane Technologies Trading Down 0.7 %

Shares of NYSE:TT opened at $416.09 on Friday. 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 business’s 50-day moving average is $397.38 and its 200 day moving average is $358.48. The firm has a market capitalization of $93.63 billion, a P/E ratio of 38.60, a P/E/G ratio of 2.62 and a beta of 1.02. Trane Technologies plc has a 1 year low of $221.22 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 EPS 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 firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the business earned $2.79 earnings per share. The company’s revenue was up 10.0% compared to the same quarter last year. On average, research analysts predict that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.81%. Trane Technologies’s payout ratio is currently 31.17%.

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.