Horizon Family Wealth Inc. Sells 109 Shares of Trane Technologies plc (NYSE:TT)

Horizon Family Wealth Inc. reduced its holdings in Trane Technologies plc (NYSE:TT) by 13.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 725 shares of the company’s stock after selling 109 shares during the quarter. Horizon Family Wealth Inc.’s holdings in Trane Technologies were worth $245,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Ameriprise Financial Inc. increased its stake in Trane Technologies by 4.1% in the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company’s stock worth $1,234,908,000 after acquiring an additional 130,867 shares during the last quarter. Northern Trust Corp increased its position in shares of Trane Technologies by 20.1% during the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock valued at $948,316,000 after purchasing an additional 429,953 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Trane Technologies by 1.6% during the 4th quarter. Nuveen Asset Management LLC now owns 2,332,626 shares of the company’s stock valued at $861,555,000 after purchasing an additional 37,389 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Trane Technologies by 8.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,319,287 shares of the company’s stock valued at $856,629,000 after purchasing an additional 177,206 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Trane Technologies by 12.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,076,761 shares of the company’s stock valued at $699,702,000 after purchasing an additional 237,905 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Trading Down 1.1%

NYSE TT opened at $434.25 on Tuesday. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. The stock has a 50 day simple moving average of $435.77 and a two-hundred day simple moving average of $388.94. The stock has a market cap of $96.63 billion, a P/E ratio of 34.44, a price-to-earnings-growth ratio of 2.80 and a beta of 1.09.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.09. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter last year, the business posted $3.30 EPS. The business’s revenue was up 7.6% on a year-over-year basis. On average, analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a $0.94 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is 29.82%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. The Goldman Sachs Group increased their price objective on Trane Technologies from $416.00 to $460.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Morgan Stanley increased their price objective on Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Robert W. Baird increased their price objective on Trane Technologies from $396.00 to $450.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. UBS Group increased their price objective on Trane Technologies from $470.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. Finally, Barclays increased their price objective on Trane Technologies from $480.00 to $495.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $455.67.

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.