Point72 Asia Singapore Pte. Ltd. Sells 19,835 Shares of Trane Technologies plc (NYSE:TT)

Point72 Asia Singapore Pte. Ltd. decreased its stake in shares of Trane Technologies plc (NYSE:TT) by 79.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,107 shares of the company’s stock after selling 19,835 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Trane Technologies were worth $1,985,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TT. MidAtlantic Capital Management Inc. bought a new stake in Trane Technologies during the 3rd quarter valued at about $27,000. DT Investment Partners LLC bought a new stake in shares of Trane Technologies in the 3rd quarter valued at about $36,000. Fortitude Family Office LLC raised its holdings in shares of Trane Technologies by 63.2% in the 2nd 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 shares of Trane Technologies in the 2nd quarter valued at about $39,000. Finally, Quarry LP bought a new stake in shares of Trane Technologies in the 2nd quarter valued at about $39,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 0.0 %

NYSE:TT opened at $416.22 on Monday. The company has a market cap of $93.66 billion, a PE ratio of 38.61, a P/E/G ratio of 2.52 and a beta of 1.02. Trane Technologies plc has a twelve month low of $221.22 and a twelve month high of $422.00. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $398.01 and its two-hundred day moving average is $359.50.

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. Analysts anticipate that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed 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 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s payout ratio is 31.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TT shares. UBS Group started coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price target for the company. Wells Fargo & Company boosted their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. 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. Mizuho lifted their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $397.64.

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.