Trane Technologies plc (NYSE:TT) Shares Sold by XTX Topco Ltd

XTX Topco Ltd lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 93.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 546 shares of the company’s stock after selling 7,943 shares during the period. XTX Topco Ltd’s holdings in Trane Technologies were worth $212,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new position in shares of Trane Technologies in the 3rd quarter worth $27,000. DT Investment Partners LLC acquired a new position in shares of Trane Technologies in the 3rd quarter valued at about $36,000. Quarry LP purchased a new stake in shares of Trane Technologies during the 2nd quarter worth about $39,000. Pittenger & Anderson Inc. acquired a new stake in Trane Technologies during the 3rd quarter worth approximately $39,000. Finally, Valley Wealth Managers Inc. purchased a new position in Trane Technologies in the second quarter valued at approximately $51,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE TT opened at $376.90 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $84.81 billion, a price-to-earnings ratio of 34.96, a price-to-earnings-growth ratio of 2.43 and a beta of 1.03. Trane Technologies plc has a twelve month low of $233.76 and a twelve month high of $422.00. The business has a 50 day simple moving average of $401.36 and a 200-day simple moving average of $365.97.

Trane Technologies (NYSE:TT) last issued 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 for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the prior year, the company earned $2.79 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. As a group, equities research analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TT. Citigroup raised their target price on shares of Trane Technologies from $457.00 to $478.00 and gave the company a “buy” rating in a research note on Monday, December 9th. UBS Group initiated coverage on Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price target on the stock. 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. Northcoast Research started coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 price target on the stock. Finally, Wells Fargo & Company raised their target price on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $409.93.

Insider Activity at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.38% of the company’s stock.

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.