First Horizon Advisors Inc. Has $1.54 Million Stock Position in Trane Technologies plc (NYSE:TT)

First Horizon Advisors Inc. cut its stake in shares of Trane Technologies plc (NYSE:TT) by 10.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,963 shares of the company’s stock after selling 467 shares during the period. First Horizon Advisors Inc.’s holdings in Trane Technologies were worth $1,541,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. bought a new position in shares of Trane Technologies during the third quarter worth $27,000. DT Investment Partners LLC acquired a new position in Trane Technologies in the third quarter valued at about $36,000. Pittenger & Anderson Inc. acquired a new position in shares of Trane Technologies in the 3rd quarter valued at approximately $39,000. Fortitude Family Office LLC increased its stake in Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after purchasing an additional 43 shares in the last quarter. Finally, Triad Wealth Partners LLC acquired a new stake in Trane Technologies during the 2nd quarter worth approximately $39,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

NYSE:TT opened at $411.16 on Thursday. Trane Technologies plc has a 12-month low of $221.22 and a 12-month high of $421.78. The firm has a market capitalization of $92.52 billion, a price-to-earnings ratio of 38.14, a P/E/G ratio of 2.58 and a beta of 1.02. The stock’s 50 day moving average price is $391.85 and its two-hundred day moving average price is $355.02. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.79 EPS. On average, analysts anticipate that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently announced 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. This represents a $3.36 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is 31.17%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TT. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Royal Bank of Canada upped their price objective on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. The Goldman Sachs Group lifted their target price on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Barclays upped their price target 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, Mizuho lifted their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and a consensus target price of $389.77.

Trane Technologies Company 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.