Connor Clark & Lunn Investment Management Ltd. Has $566,000 Stock Holdings in Trane Technologies plc (NYSE:TT)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of Trane Technologies plc (NYSE:TT) by 87.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,456 shares of the company’s stock after selling 10,182 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Trane Technologies were worth $566,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new position in Trane Technologies in the third quarter valued at about $27,000. DT Investment Partners LLC bought a new position in Trane Technologies during the 3rd quarter worth approximately $36,000. Pittenger & Anderson Inc. acquired a new position in Trane Technologies during the third quarter valued at approximately $39,000. Fortitude Family Office LLC increased its stake in Trane Technologies by 63.2% in the second 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. Finally, Triad Wealth Partners LLC acquired a new stake in Trane Technologies in the second quarter worth $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Up 0.0 %

Shares of NYSE:TT opened at $416.22 on Friday. Trane Technologies plc has a 12-month low of $221.22 and a 12-month high of $422.00. The business has a 50 day moving average of $398.01 and a 200-day moving average of $359.11. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The stock 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 (NYSE:TT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the firm posted $2.79 EPS. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, equities research analysts forecast that Trane Technologies plc will post 11.14 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.81%. Trane Technologies’s payout ratio is presently 31.17%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TT. Stephens restated an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Wells Fargo & Company increased their price target on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Robert W. Baird lowered their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, Mizuho lifted their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $397.64.

Trane Technologies Company 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.