Trane Technologies plc (NYSE:TT) Stock Holdings Cut by Oak Harbor Wealth Partners LLC

Oak Harbor Wealth Partners LLC reduced its position in shares of Trane Technologies plc (NYSE:TT) by 13.0% in the third quarter, HoldingsChannel.com reports. The firm owned 2,583 shares of the company’s stock after selling 387 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Trane Technologies were worth $1,004,000 at the end of the most recent reporting period.

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

Trane Technologies Stock Performance

NYSE:TT opened at $410.13 on Friday. Trane Technologies plc has a 1 year low of $221.22 and a 1 year high of $421.78. The firm has a 50 day moving average of $385.43 and a 200-day moving average of $351.65. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $92.29 billion, a P/E ratio of 38.05, a price-to-earnings-growth ratio of 2.63 and a beta of 1.02.

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. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the previous year, the company posted $2.79 EPS. Trane Technologies’s revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. The Goldman Sachs Group lifted their price objective on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Stephens reiterated an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research report on Thursday, October 31st. Barclays lifted their target price on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lifted their target price on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Trane Technologies presently has an average rating of “Hold” and a consensus price target of $389.77.

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.