Rockefeller Capital Management L.P. Sells 6,721 Shares of Trane Technologies plc (NYSE:TT)

Rockefeller Capital Management L.P. decreased its position in shares of Trane Technologies plc (NYSE:TT) by 21.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 23,921 shares of the company’s stock after selling 6,721 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Trane Technologies were worth $9,293,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Albar Capital Ltd purchased a new position in shares of Trane Technologies in the second quarter worth about $14,556,000. GDS Wealth Management grew its position in shares of Trane Technologies by 4.3% in the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after purchasing an additional 2,124 shares in the last quarter. King Wealth Management Group bought a new position in Trane Technologies in the 3rd quarter worth about $1,879,000. Gradient Investments LLC grew its holdings in Trane Technologies by 7,988.0% during the 2nd quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock valued at $665,000 after buying an additional 1,997 shares in the last quarter. Finally, QRG Capital Management Inc. increased its position in shares of Trane Technologies by 4.1% during the second quarter. QRG Capital Management Inc. now owns 39,475 shares of the company’s stock valued at $12,985,000 after buying an additional 1,554 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $412.56 on Wednesday. The stock has a market capitalization of $92.83 billion, a price-to-earnings ratio of 38.27, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03. The company has a fifty day moving average of $399.13 and a 200-day moving average of $360.72. Trane Technologies plc has a 52-week low of $226.18 and a 52-week high of $422.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22.

Trane Technologies (NYSE:TT) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.79 earnings per share. Equities research analysts expect that Trane Technologies plc will post 11.14 EPS for the current 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. This represents a $3.36 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio is 31.17%.

Wall Street Analysts Forecast Growth

TT has been the subject of several recent analyst reports. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. 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. UBS Group began coverage on Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price for the company. Northcoast Research initiated coverage on Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target for the company. Finally, Mizuho upped their price objective 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. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and a consensus price target of $397.64.

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.