OneAscent Financial Services LLC Reduces Stake in Trane Technologies plc (NYSE:TT)

OneAscent Financial Services LLC decreased its stake in shares of Trane Technologies plc (NYSE:TT) by 42.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,262 shares of the company’s stock after selling 1,651 shares during the period. OneAscent Financial Services LLC’s holdings in Trane Technologies were worth $879,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Albar Capital Ltd purchased a new stake in Trane Technologies during the 2nd quarter worth about $14,556,000. GDS Wealth Management raised 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 valued at $20,123,000 after acquiring an additional 2,124 shares in the last quarter. King Wealth Management Group purchased a new stake in shares of Trane Technologies in the 3rd quarter valued at about $1,879,000. Gradient Investments LLC raised its holdings in shares of Trane Technologies by 7,988.0% in the 2nd quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock valued at $665,000 after acquiring an additional 1,997 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Trane Technologies by 29.2% in the 1st quarter. Bessemer Group Inc. now owns 53,255 shares of the company’s stock valued at $15,988,000 after acquiring an additional 12,045 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Mizuho raised 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 cut Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a report on Thursday, October 31st. UBS Group began coverage on Trane Technologies in a report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price target on the stock. Stephens reiterated an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Finally, Morgan Stanley began coverage on Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $389.77.

Trane Technologies Price Performance

TT opened at $409.70 on Tuesday. The stock’s 50 day simple moving average is $389.37 and its 200 day simple moving average is $353.97. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies plc has a 1 year low of $221.22 and a 1 year high of $421.78. The firm has a market cap of $92.19 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 2.58 and a beta of 1.02.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the company earned $2.79 EPS. Trane Technologies’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.82%. Trane Technologies’s dividend payout ratio is currently 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.