Charles Schwab Investment Management Inc. Decreases Position in Trane Technologies plc (NYSE:TT)

Charles Schwab Investment Management Inc. reduced its stake in Trane Technologies plc (NYSE:TT) by 0.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,226,405 shares of the company’s stock after selling 88 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Trane Technologies were worth $476,741,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its stake in Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after purchasing an additional 671,691 shares during the period. Integrated Investment Consultants LLC increased its stake in Trane Technologies by 61.9% in the 3rd quarter. Integrated Investment Consultants LLC now owns 1,240 shares of the company’s stock valued at $482,000 after buying an additional 474 shares during the period. Trustmark National Bank Trust Department lifted its stake in shares of Trane Technologies by 6.2% in the 3rd quarter. Trustmark National Bank Trust Department now owns 4,739 shares of the company’s stock worth $1,842,000 after acquiring an additional 275 shares during the period. Cornerstone Advisors LLC increased its stake in shares of Trane Technologies by 45.1% during the third quarter. Cornerstone Advisors LLC now owns 10,300 shares of the company’s stock worth $4,004,000 after acquiring an additional 3,200 shares during the period. Finally, Citizens Financial Group Inc. RI lifted its position in Trane Technologies by 41.9% in the third quarter. Citizens Financial Group Inc. RI now owns 2,405 shares of the company’s stock valued at $935,000 after purchasing an additional 710 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Up 1.0 %

TT stock opened at $415.39 on Friday. The company has a 50 day moving average price of $392.96 and a two-hundred day moving average price of $355.44. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The stock has a market capitalization of $93.47 billion, a P/E ratio of 38.53, a PEG ratio of 2.62 and a beta of 1.02. Trane Technologies plc has a one year low of $221.22 and a one year high of $421.78.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.79 EPS. As a group, sell-side analysts expect that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Dividend Announcement

The firm 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. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.81%. Trane Technologies’s payout ratio is 31.17%.

Analysts Set New Price Targets

TT has been the topic of a number of recent analyst reports. Barclays upped their price objective on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research note on Thursday, October 31st. Mizuho upped their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Stephens reissued an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Finally, Robert W. Baird dropped their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. One investment 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.com, the stock has a consensus rating of “Hold” and a consensus target price of $389.77.

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.