Verition Fund Management LLC Sells 21,419 Shares of Trane Technologies plc (NYSE:TT)

Verition Fund Management LLC trimmed its stake in Trane Technologies plc (NYSE:TT) by 58.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,277 shares of the company’s stock after selling 21,419 shares during the quarter. Verition Fund Management LLC’s holdings in Trane Technologies were worth $5,939,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. International Assets Investment Management LLC boosted its stake in Trane Technologies by 35,914.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after purchasing an additional 1,640,569 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Trane Technologies by 35.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after buying an additional 671,691 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Trane Technologies by 7,363.1% during the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock valued at $139,067,000 after buying an additional 417,120 shares during the last quarter. FMR LLC increased its position in shares of Trane Technologies by 4.0% during the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after acquiring an additional 397,537 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Trane Technologies by 162.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock worth $147,263,000 after acquiring an additional 277,274 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on TT. The Goldman Sachs Group increased their target price on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. UBS Group began coverage on Trane Technologies in a report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price objective for the company. Barclays upped their target price on shares of Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Robert W. Baird reduced their price target 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. Finally, Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. 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 company’s stock. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $397.64.

Trane Technologies Stock Down 0.4 %

NYSE TT opened at $414.61 on Tuesday. Trane Technologies plc has a 52 week low of $226.18 and a 52 week high of $422.00. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $93.30 billion, a P/E ratio of 38.46, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The stock’s 50-day moving average price is $398.01 and its 200-day moving average price is $359.50.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion for 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 firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.79 EPS. On average, equities research analysts predict that Trane Technologies plc will post 11.14 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.81%. Trane Technologies’s dividend payout ratio is presently 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.