Oppenheimer & Co. Inc. Sells 209 Shares of Trane Technologies plc (NYSE:TT)

Oppenheimer & Co. Inc. trimmed its stake in Trane Technologies plc (NYSE:TT) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,870 shares of the company’s stock after selling 209 shares during the period. Oppenheimer & Co. Inc.’s holdings in Trane Technologies were worth $3,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Pinnacle Financial Partners Inc grew its stake in Trane Technologies by 11.5% in the third quarter. Pinnacle Financial Partners Inc now owns 4,709 shares of the company’s stock worth $1,831,000 after purchasing an additional 485 shares in the last quarter. Community Bank & Trust Waco Texas grew its position in shares of Trane Technologies by 10.9% during the 3rd quarter. Community Bank & Trust Waco Texas now owns 1,775 shares of the company’s stock worth $690,000 after buying an additional 175 shares in the last quarter. Haverford Trust Co increased its stake in shares of Trane Technologies by 1.3% during the third quarter. Haverford Trust Co now owns 2,647 shares of the company’s stock valued at $1,029,000 after buying an additional 34 shares during the period. Aptus Capital Advisors LLC raised its holdings in shares of Trane Technologies by 2.3% in the third quarter. Aptus Capital Advisors LLC now owns 1,677 shares of the company’s stock valued at $652,000 after acquiring an additional 38 shares in the last quarter. Finally, Aigen Investment Management LP grew its holdings in Trane Technologies by 73.1% during the 3rd quarter. Aigen Investment Management LP now owns 1,560 shares of the company’s stock worth $606,000 after acquiring an additional 659 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Trading Down 0.6 %

Shares of Trane Technologies stock opened at $407.60 on Friday. The firm’s 50 day simple moving average is $386.78 and its two-hundred day simple moving average is $352.06. The firm has a market capitalization of $91.72 billion, a price-to-earnings ratio of 37.81, a PEG ratio of 2.63 and a beta of 1.02. Trane Technologies plc has a 12-month low of $221.22 and a 12-month high of $421.78. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last released its earnings results 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 firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the prior year, the firm earned $2.79 EPS. The firm’s revenue was up 10.0% on a year-over-year basis. Analysts predict that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Morgan Stanley initiated coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target for the company. 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 research report on Thursday, October 31st. Wells Fargo & Company boosted their price target on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada boosted their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. 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. According to data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average target price of $389.77.

About Trane Technologies

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.