Rhumbline Advisers Sells 4,289 Shares of Trane Technologies plc $TT

Rhumbline Advisers lowered its position in Trane Technologies plc (NYSE:TT) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 445,943 shares of the company’s stock after selling 4,289 shares during the period. Rhumbline Advisers owned about 0.20% of Trane Technologies worth $188,170,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TT. Financial Consulate Inc. bought a new stake in Trane Technologies in the third quarter worth about $25,000. Icon Advisers Inc. Co. purchased a new stake in Trane Technologies during the 2nd quarter worth about $26,000. Hantz Financial Services Inc. boosted its position in shares of Trane Technologies by 1,016.7% in the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after acquiring an additional 61 shares during the period. United Community Bank raised its position in shares of Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after buying an additional 43 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC lifted its position in Trane Technologies by 34.2% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after purchasing an additional 26 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $461.60 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm’s 50-day moving average price is $400.25 and its 200-day moving average price is $414.16. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The company has a market cap of $102.17 billion, a PE ratio of 35.56, a PEG ratio of 2.42 and a beta of 1.21.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.05. The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company posted $2.61 earnings per share. As a group, analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a $1.05 dividend. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s payout ratio is 28.97%.

Wall Street Analyst Weigh In

TT has been the subject of a number of research reports. Bank of America upgraded Trane Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $490.00 to $550.00 in a report on Thursday, November 13th. UBS Group lowered their price target on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. Royal Bank Of Canada upped their target price on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Finally, Barclays upped their price objective on shares of Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $484.67.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.