Simmons Bank Sells 75 Shares of Trane Technologies plc (NYSE:TT)

Simmons Bank trimmed its position in Trane Technologies plc (NYSE:TT) by 10.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 643 shares of the company’s stock after selling 75 shares during the period. Simmons Bank’s holdings in Trane Technologies were worth $250,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC boosted its holdings in shares of Trane Technologies by 36.9% in the 1st quarter. Kingsview Wealth Management LLC now owns 3,875 shares of the company’s stock worth $1,163,000 after buying an additional 1,045 shares during the last quarter. Blair William & Co. IL raised its position in Trane Technologies by 1.6% in the first quarter. Blair William & Co. IL now owns 17,261 shares of the company’s stock worth $5,182,000 after acquiring an additional 265 shares during the period. Orion Portfolio Solutions LLC grew its position in shares of Trane Technologies by 12.5% during the 1st quarter. Orion Portfolio Solutions LLC now owns 10,904 shares of the company’s stock valued at $3,274,000 after acquiring an additional 1,209 shares during the period. Dorsey & Whitney Trust CO LLC increased its stake in shares of Trane Technologies by 2.3% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,760 shares of the company’s stock worth $528,000 after purchasing an additional 39 shares during the last quarter. Finally, M&G Plc bought a new stake in shares of Trane Technologies in the 1st quarter worth approximately $8,939,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the subject of a number of recent research reports. Morgan Stanley initiated coverage on Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price for the company. The Goldman Sachs Group upped their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. UBS Group started coverage on Trane Technologies in a research report on Wednesday. They set a “buy” rating and a $500.00 price target for the company. Finally, HSBC cut 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. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $389.77.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $410.13 on Friday. 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. The company has a 50-day moving average price of $385.43 and a 200-day moving average price of $351.65. The company has a market cap of $92.29 billion, a price-to-earnings ratio of 38.05, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.23 by $0.14. The firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations 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 period last year, the company posted $2.79 EPS. As a group, equities analysts anticipate that Trane Technologies plc will post 11.13 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 given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.82%. Trane Technologies’s dividend payout ratio (DPR) is currently 31.17%.

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.