Nations Financial Group Inc. IA ADV Sells 152 Shares of Trane Technologies plc (NYSE:TT)

Nations Financial Group Inc. IA ADV lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 1.9% during the third quarter, Holdings Channel.com reports. The fund owned 7,960 shares of the company’s stock after selling 152 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Trane Technologies were worth $3,094,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TT. Duality Advisers LP acquired a new stake in shares of Trane Technologies during the 1st quarter valued at $331,000. Envestnet Portfolio Solutions Inc. raised its position in shares of Trane Technologies by 9.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 9,920 shares of the company’s stock worth $2,978,000 after acquiring an additional 892 shares in the last quarter. Empowered Funds LLC raised its position in shares of Trane Technologies by 138.0% in the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock worth $2,001,000 after acquiring an additional 3,866 shares in the last quarter. PFG Advisors bought a new position in shares of Trane Technologies in the 1st quarter worth about $243,000. Finally, Atomi Financial Group Inc. raised its position in shares of Trane Technologies by 4.0% in the 1st quarter. Atomi Financial Group Inc. now owns 1,474 shares of the company’s stock worth $442,000 after acquiring an additional 57 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on TT shares. Morgan Stanley started coverage on Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price for the company. The Goldman Sachs Group boosted their target price on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Stephens reissued an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. Barclays boosted their price objective on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $380.15.

Trane Technologies Price Performance

TT traded up $1.44 during trading on Monday, reaching $412.02. The stock had a trading volume of 149,726 shares, compared to its average volume of 1,109,824. The business has a 50-day moving average of $381.70 and a 200-day moving average of $349.64. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies plc has a one year low of $221.22 and a one year high of $416.86. The stock has a market cap of $92.71 billion, a PE ratio of 38.09, a PEG ratio of 2.60 and a beta of 1.02.

Trane Technologies (NYSE:TT) last posted its 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. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the business posted $2.79 earnings per share. Trane Technologies’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities research analysts anticipate that Trane Technologies plc will post 11.13 EPS for the current fiscal 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 issued a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.82%. Trane Technologies’s payout ratio is 31.17%.

Trane Technologies Company 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.