Isthmus Partners LLC Trims Position in Trane Technologies plc (NYSE:TT)

Isthmus Partners LLC trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 4.8% during the third quarter, HoldingsChannel reports. The fund owned 50,518 shares of the company’s stock after selling 2,533 shares during the quarter. Trane Technologies comprises 2.3% of Isthmus Partners LLC’s holdings, making the stock its 2nd largest position. Isthmus Partners LLC’s holdings in Trane Technologies were worth $19,638,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. bought a new stake in shares of Trane Technologies in the 3rd quarter valued at $27,000. DT Investment Partners LLC bought a new stake in shares of Trane Technologies in the 3rd quarter valued at $36,000. Fortitude Family Office LLC boosted its stake in shares of Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after purchasing an additional 43 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in shares of Trane Technologies in the 2nd quarter valued at $39,000. Finally, Quarry LP bought a new stake in shares of Trane Technologies in the 2nd quarter valued at $39,000. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Northcoast Research began coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Barclays increased their target price on shares of Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research note on Thursday, October 31st. Finally, Robert W. Baird cut their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $397.64.

Trane Technologies Stock Performance

Shares of TT stock opened at $416.09 on Friday. The firm has a 50-day moving average of $397.38 and a 200-day moving average of $358.48. The company has a market cap of $93.63 billion, a P/E ratio of 38.60, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies plc has a one year low of $221.22 and a one year high of $422.00.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating the consensus estimate 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 firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.79 earnings per share. Equities 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 announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.81%. Trane Technologies’s dividend payout ratio is currently 31.17%.

Trane Technologies Company 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.