Baldwin Investment Management LLC Sells 50 Shares of Trane Technologies plc (NYSE:TT)

Baldwin Investment Management LLC reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,370 shares of the company’s stock after selling 50 shares during the period. Baldwin Investment Management LLC’s holdings in Trane Technologies were worth $1,310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Albar Capital Ltd bought a new position in shares of Trane Technologies in the 2nd quarter valued at approximately $14,556,000. GDS Wealth Management grew its holdings in Trane Technologies by 4.3% during the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after purchasing an additional 2,124 shares during the last quarter. King Wealth Management Group bought a new position in shares of Trane Technologies in the third quarter valued at approximately $1,879,000. Gradient Investments LLC lifted its stake in shares of Trane Technologies by 7,988.0% in the second quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock worth $665,000 after buying an additional 1,997 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in shares of Trane Technologies by 4.1% during the 2nd quarter. QRG Capital Management Inc. now owns 39,475 shares of the company’s stock worth $12,985,000 after buying an additional 1,554 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE:TT opened at $419.14 on Wednesday. The firm has a market capitalization of $94.31 billion, a PE ratio of 38.88, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. 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 plc has a 12-month low of $221.22 and a 12-month high of $422.00. The firm has a 50-day moving average price of $395.80 and a 200 day moving average price of $357.67.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. Trane Technologies’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.79 EPS. Research analysts anticipate that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.80%. Trane Technologies’s payout ratio is presently 31.17%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TT shares. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a report on Thursday, October 31st. UBS Group assumed coverage on Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price objective for the company. Morgan Stanley started coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price on the stock. Stephens reiterated an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. Finally, The Goldman Sachs Group increased their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.