Trane Technologies plc $TT Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc trimmed its stake in shares of Trane Technologies plc (NYSE:TT) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 261,508 shares of the company’s stock after selling 10,871 shares during the period. Impax Asset Management Group plc owned about 0.12% of Trane Technologies worth $110,346,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. NorthRock Partners LLC grew its stake in shares of Trane Technologies by 1.2% during the 2nd quarter. NorthRock Partners LLC now owns 2,052 shares of the company’s stock worth $898,000 after purchasing an additional 24 shares during the period. King Luther Capital Management Corp boosted its holdings in Trane Technologies by 1.3% during the second quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock worth $849,000 after buying an additional 24 shares in the last quarter. Old Port Advisors grew its position in Trane Technologies by 3.2% during the third quarter. Old Port Advisors now owns 778 shares of the company’s stock valued at $328,000 after buying an additional 24 shares during the period. OneAscent Wealth Management LLC increased its holdings in Trane Technologies by 1.5% in the third quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock valued at $686,000 after buying an additional 24 shares in the last quarter. Finally, Busey Bank increased its holdings in Trane Technologies by 3.0% in the third quarter. Busey Bank now owns 871 shares of the company’s stock valued at $368,000 after buying an additional 25 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Barclays raised their target price on Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. UBS Group dropped their price objective on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Melius Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price for the company in a research note on Wednesday, January 7th. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Finally, Bank of America upgraded shares of 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 research report on Thursday, November 13th. One research 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $484.67.

Trane Technologies Trading Up 0.4%

TT opened at $461.60 on Wednesday. The firm has a market capitalization of $102.17 billion, a price-to-earnings ratio of 35.56, a price-to-earnings-growth ratio of 2.42 and a beta of 1.21. The company’s 50 day simple moving average is $400.25 and its two-hundred day simple moving average is $414.16. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. The company had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.61 earnings per share. Analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal 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 paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s payout ratio is presently 28.97%.

Trane Technologies Profile

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.