Pacer Advisors Inc. Has $6.50 Million Holdings in Trane Technologies plc (NYSE:TT)

Pacer Advisors Inc. trimmed its stake in shares of Trane Technologies plc (NYSE:TT) by 9.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,725 shares of the company’s stock after selling 1,690 shares during the period. Pacer Advisors Inc.’s holdings in Trane Technologies were worth $6,502,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. MidAtlantic Capital Management Inc. acquired a new stake in Trane Technologies in the third quarter worth about $27,000. DT Investment Partners LLC acquired a new position in Trane Technologies during the third quarter valued at approximately $36,000. Fortitude Family Office LLC increased its stake in Trane Technologies by 63.2% in the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after purchasing an additional 43 shares in the last quarter. Triad Wealth Partners LLC bought a new stake in Trane Technologies during the 2nd quarter worth approximately $39,000. Finally, Quarry LP acquired a new stake in Trane Technologies during the 2nd quarter worth approximately $39,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Performance

TT opened at $417.49 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies plc has a 52-week low of $221.22 and a 52-week high of $421.78. The firm has a market cap of $93.94 billion, a P/E ratio of 38.73, a price-to-earnings-growth ratio of 2.63 and a beta of 1.02. The business’s fifty day moving average is $394.03 and its 200-day moving average is $356.29.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The firm 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 business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.79 earnings per share. Sell-side analysts expect that Trane Technologies plc will post 11.14 EPS 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. Shareholders of record on Friday, December 6th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.80%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is presently 31.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TT shares. UBS Group started coverage on Trane Technologies in a research report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price on the stock. Stephens restated an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report 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. Finally, Mizuho boosted their price objective on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $397.64.

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.