Janus Henderson Group PLC Sells 33,137 Shares of Trane Technologies plc (NYSE:TT)

Janus Henderson Group PLC cut its holdings in Trane Technologies plc (NYSE:TT) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,091,410 shares of the company’s stock after selling 33,137 shares during the period. Janus Henderson Group PLC’s holdings in Trane Technologies were worth $424,241,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TT. MidAtlantic Capital Management Inc. bought a new stake in Trane Technologies during the 3rd quarter valued at $27,000. DT Investment Partners LLC purchased a new position in shares of Trane Technologies in the third quarter valued at about $36,000. Fortitude Family Office LLC boosted its holdings in shares of Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after purchasing an additional 43 shares during the period. Triad Wealth Partners LLC bought a new stake in shares of Trane Technologies in the second quarter worth about $39,000. Finally, Quarry LP purchased a new position in Trane Technologies during the 2nd quarter valued at about $39,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Down 0.5 %

TT stock opened at $412.56 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average of $399.13 and a 200 day moving average of $360.72. Trane Technologies plc has a twelve month low of $226.18 and a twelve month high of $422.00. The firm has a market cap of $92.83 billion, a PE ratio of 38.27, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share 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 during the quarter, compared to the consensus estimate of $5.32 billion. During the same period last year, the company earned $2.79 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. On average, research analysts forecast that Trane Technologies plc will post 11.14 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s payout ratio is 31.17%.

Analyst Ratings Changes

TT has been the topic of a number of recent analyst reports. Robert W. Baird cut their price objective 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. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a research report on Thursday, October 31st. Morgan Stanley started coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price for the company. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Northcoast Research initiated coverage on shares of Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $397.64.

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.