Thrivent Financial for Lutherans Trims Position in Trane Technologies plc (NYSE:TT)

Thrivent Financial for Lutherans cut its position in Trane Technologies plc (NYSE:TT) by 6.3% in the third quarter, HoldingsChannel.com reports. The firm owned 117,943 shares of the company’s stock after selling 7,925 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Trane Technologies were worth $45,849,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Albar Capital Ltd purchased a new position in Trane Technologies during the second quarter valued at $14,556,000. GDS Wealth Management lifted its holdings in shares of Trane Technologies by 4.3% in the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after acquiring an additional 2,124 shares during the last quarter. King Wealth Management Group bought a new stake in Trane Technologies during the 3rd quarter valued at about $1,879,000. Gradient Investments LLC lifted 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, Bessemer Group Inc. lifted its holdings in Trane Technologies by 29.2% during the 1st quarter. Bessemer Group Inc. now owns 53,255 shares of the company’s stock valued at $15,988,000 after buying an additional 12,045 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. UBS Group started coverage on shares of Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price on the stock. Wells Fargo & Company upped their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a research note on Thursday, October 31st. Robert W. Baird dropped their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, The Goldman Sachs Group upped their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $389.77.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $409.70 on Tuesday. 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 has a market capitalization of $92.19 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. Trane Technologies plc has a 1 year low of $221.22 and a 1 year high of $421.78. The company’s fifty day moving average price is $389.37 and its 200 day moving average price is $353.97.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion for 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 company’s revenue was up 10.0% compared to the same quarter last year. During the same period last year, the firm posted $2.79 earnings per share. On average, research analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Announces Dividend

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 given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is 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.