Trane Technologies plc (NYSE:TT) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its position in shares of Trane Technologies plc (NYSE:TT) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 35,820 shares of the company’s stock after selling 1,463 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Trane Technologies were worth $13,924,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TT. DT Investment Partners LLC bought a new position in shares of Trane Technologies in the third quarter valued at $36,000. Pittenger & Anderson Inc. acquired a new stake in shares of Trane Technologies during the 3rd quarter valued at about $39,000. Fortitude Family Office LLC raised its position in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after acquiring an additional 43 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in Trane Technologies in the second quarter valued at approximately $39,000. Finally, Quarry LP bought a new stake in Trane Technologies in the second quarter worth approximately $39,000. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TT has been the subject of several analyst reports. Robert W. Baird reduced their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. The Goldman Sachs Group increased their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. UBS Group initiated coverage on Trane Technologies in a report on Wednesday. They issued a “buy” rating and a $500.00 target price for the company. Mizuho increased their price target on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Stephens reissued an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $389.77.

Trane Technologies Stock Down 0.6 %

Shares of NYSE:TT opened at $407.49 on Friday. The company has a market capitalization of $91.69 billion, a PE ratio of 37.80, a P/E/G ratio of 2.58 and a beta of 1.02. 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 company’s fifty day moving average is $388.09 and its 200-day moving average is $353.05. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $421.78.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business posted $2.79 earnings per share. Equities research analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.82%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

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.