Impax Asset Management Group plc Trims Holdings in Trane Technologies plc $TT

Impax Asset Management Group plc trimmed its position in shares of Trane Technologies plc (NYSE:TT) by 4.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 261,508 shares of the company’s stock after selling 10,871 shares during the period. Impax Asset Management Group plc’s holdings in Trane Technologies were worth $110,346,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Consulate Inc. acquired a new position in Trane Technologies during the 3rd quarter worth about $25,000. Icon Advisers Inc. Co. purchased a new stake in Trane Technologies during the second quarter worth about $26,000. Hantz Financial Services Inc. lifted its position in shares of Trane Technologies by 1,016.7% during the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after purchasing an additional 61 shares in the last quarter. United Community Bank boosted its stake in shares of Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after purchasing an additional 43 shares during the period. Finally, Halbert Hargrove Global Advisors LLC boosted its stake in shares of Trane Technologies by 34.2% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after purchasing an additional 26 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

TT stock opened at $461.60 on Wednesday. The business has a 50 day moving average price of $400.25 and a 200 day moving average price of $414.16. The stock has a market cap of $102.17 billion, a price-to-earnings ratio of 35.56, a PEG ratio of 2.42 and a beta of 1.21. 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 quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating the consensus estimate of $2.81 by $0.05. The company had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.61 earnings per share. Equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a $1.05 dividend. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, March 6th. Trane Technologies’s payout ratio is currently 28.97%.

Wall Street Analyst Weigh In

TT has been the subject of several recent research reports. KeyCorp raised shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a research report on Monday, December 15th. Royal Bank Of Canada increased their price objective on Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $490.00 to $550.00 in a research report on Thursday, November 13th. Finally, JPMorgan Chase & Co. lifted their price objective on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Trane Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $484.67.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.