Main Street Financial Solutions LLC Cuts Holdings in Trane Technologies plc (NYSE:TT)

Main Street Financial Solutions LLC lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 27.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 705 shares of the company’s stock after selling 273 shares during the period. Main Street Financial Solutions LLC’s holdings in Trane Technologies were worth $274,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TT. DT Investment Partners LLC purchased a new stake in Trane Technologies in the third quarter worth approximately $36,000. Fortitude Family Office LLC lifted its holdings in Trane Technologies by 63.2% in the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after buying an additional 43 shares during the period. Triad Wealth Partners LLC purchased a new stake in Trane Technologies in the second quarter worth $39,000. Quarry LP purchased a new stake in shares of Trane Technologies in the 2nd quarter worth about $39,000. Finally, Pittenger & Anderson Inc. bought a new position in shares of Trane Technologies during the third quarter valued at approximately $39,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TT shares. Robert W. Baird reduced their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Royal Bank of Canada increased their price target on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a report on Thursday, October 31st. The Goldman Sachs Group boosted their price target on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Hsbc Global Res cut shares of 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 assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $389.77.

Trane Technologies Stock Performance

Trane Technologies stock opened at $410.13 on Friday. The company has a market cap of $92.29 billion, a PE ratio of 38.05, a price-to-earnings-growth ratio of 2.63 and a beta of 1.02. Trane Technologies plc has a twelve month low of $221.22 and a twelve month high of $421.78. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average price is $385.43 and its 200-day moving average price is $351.65.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the company earned $2.79 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities research analysts forecast that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, December 6th. 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.