Charles Schwab Investment Management Inc. Lowers Stake in Trane Technologies plc (NYSE:TT)

Charles Schwab Investment Management Inc. lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 0.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,226,405 shares of the company’s stock after selling 88 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.55% of Trane Technologies worth $476,741,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Trust Point Inc. grew its position in shares of Trane Technologies by 3.1% during the 3rd quarter. Trust Point Inc. now owns 897 shares of the company’s stock worth $349,000 after buying an additional 27 shares in the last quarter. First Pacific Financial increased its position in Trane Technologies by 1.1% during the 3rd quarter. First Pacific Financial now owns 2,674 shares of the company’s stock valued at $1,039,000 after purchasing an additional 28 shares during the period. Greenleaf Trust raised its holdings in shares of Trane Technologies by 0.5% in the 3rd quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock valued at $2,275,000 after purchasing an additional 29 shares in the last quarter. Lake Street Advisors Group LLC lifted its position in shares of Trane Technologies by 1.6% in the 3rd quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company’s stock worth $737,000 after purchasing an additional 30 shares during the period. Finally, PFG Private Wealth Management LLC boosted its stake in shares of Trane Technologies by 4.7% during the second quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock valued at $232,000 after purchasing an additional 32 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Up 1.0 %

TT opened at $415.39 on Friday. Trane Technologies plc has a twelve month low of $221.22 and a twelve month high of $421.78. The company has a 50-day moving average price of $392.96 and a 200 day moving average price of $355.44. 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 cap of $93.47 billion, a PE ratio of 38.53, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the prior year, the business earned $2.79 earnings per share. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Sell-side analysts expect that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis 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 currently 31.17%.

Analyst Ratings Changes

Several analysts have issued reports on TT shares. Mizuho lifted 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. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research 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 price target on the stock. Finally, Wells Fargo & Company increased their price target on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.