Trane Technologies plc (NYSE:TT) Shares Sold by Balboa Wealth Partners

Balboa Wealth Partners trimmed its holdings in Trane Technologies plc (NYSE:TT) by 32.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 925 shares of the company’s stock after selling 448 shares during the quarter. Balboa Wealth Partners’ holdings in Trane Technologies were worth $360,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Albar Capital Ltd purchased a new stake in Trane Technologies during the second quarter valued at about $14,556,000. GDS Wealth Management lifted its stake in Trane Technologies by 4.3% during the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after buying an additional 2,124 shares in the last quarter. M&G Plc purchased a new stake in Trane Technologies during the first quarter valued at about $8,939,000. Gradient Investments LLC lifted its stake in Trane Technologies by 7,988.0% during the second quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock valued at $665,000 after buying an additional 1,997 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in Trane Technologies by 29.2% during the first quarter. Bessemer Group Inc. now owns 53,255 shares of the company’s stock valued at $15,988,000 after buying an additional 12,045 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Trading Down 0.6 %

NYSE:TT opened at $407.60 on Friday. The stock’s 50 day moving average price is $388.09 and its 200 day moving average price is $352.80. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $421.78. The company has a market capitalization of $91.72 billion, a P/E ratio of 37.81, a P/E/G ratio of 2.63 and a beta of 1.02. 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 (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 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 company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the company posted $2.79 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, research analysts forecast that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared 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 is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.82%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TT. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. The Goldman Sachs Group upped their target price on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Royal Bank of Canada upped their target price on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. Robert W. Baird dropped their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, Barclays upped their target price on Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a report 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 stock. According to MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average target price of $389.77.

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.