Trane Technologies plc $TT Stock Position Cut by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its stake in shares of Trane Technologies plc (NYSE:TT) by 3.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 340,546 shares of the company’s stock after selling 12,532 shares during the period. Envestnet Asset Management Inc.’s holdings in Trane Technologies were worth $143,697,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC raised its holdings in Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after purchasing an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of Trane Technologies by 22.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock valued at $728,000 after purchasing an additional 305 shares during the period. SteelPeak Wealth LLC bought a new stake in shares of Trane Technologies in the 2nd quarter worth $212,000. Maryland State Retirement & Pension System lifted its holdings in shares of Trane Technologies by 2.4% in the second quarter. Maryland State Retirement & Pension System now owns 10,835 shares of the company’s stock valued at $4,739,000 after buying an additional 249 shares during the period. Finally, Blair William & Co. IL grew its holdings in Trane Technologies by 5.8% during the second quarter. Blair William & Co. IL now owns 23,529 shares of the company’s stock worth $10,292,000 after acquiring an additional 1,299 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $455.35 on Friday. The company’s fifty day moving average is $398.25 and its two-hundred day moving average is $414.80. The company has a market cap of $100.97 billion, a P/E ratio of 35.08, a price-to-earnings-growth ratio of 2.30 and a beta of 1.21. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

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

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a $1.05 dividend. The ex-dividend date is Friday, March 6th. This represents a $4.20 annualized dividend and a yield of 0.9%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio (DPR) is currently 28.97%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Oppenheimer upped their price target on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Royal Bank Of Canada raised their target price on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. Barclays upped their price target on Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Melius Research upgraded Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price on the stock in a report on Wednesday, January 7th. Finally, Morgan Stanley cut their target price on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.