Axxcess Wealth Management LLC Sells 97 Shares of Trane Technologies plc (NYSE:TT)

Axxcess Wealth Management LLC lowered its holdings in Trane Technologies plc (NYSE:TT) by 15.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 523 shares of the company’s stock after selling 97 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Trane Technologies were worth $203,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Trane Technologies by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock valued at $5,670,032,000 after purchasing an additional 174,251 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Trane Technologies by 0.5% in the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock worth $5,221,599,000 after buying an additional 80,536 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Trane Technologies by 35,914.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after buying an additional 1,640,569 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Trane Technologies by 1.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,438,515 shares of the company’s stock worth $559,194,000 after buying an additional 18,403 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Trane Technologies by 0.3% in the 2nd quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock worth $357,043,000 after buying an additional 2,898 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $410.13 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 12 month low of $221.22 and a 12 month high of $421.78. The company has a 50 day simple moving average of $385.43 and a two-hundred day simple moving average of $351.65. The stock has a market cap of $92.29 billion, a price-to-earnings ratio of 38.49, a PEG ratio of 2.60 and a beta of 1.02.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating 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 business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the previous year, the business posted $2.79 EPS. The business’s quarterly revenue 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 Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TT shares. UBS Group started coverage on shares of Trane Technologies in a research report on Wednesday. They issued a “buy” rating and a $500.00 price objective on the stock. Morgan Stanley started coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective on the stock. Stephens reaffirmed an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird dropped their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $389.77.

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.