Trane Technologies plc (NYSE:TT) Shares Sold by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC lessened its holdings in Trane Technologies plc (NYSE:TT) by 23.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 25,869 shares of the company’s stock after selling 7,775 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Trane Technologies were worth $10,056,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Trust Point Inc. increased its stake in shares of Trane Technologies by 3.1% in the 3rd quarter. Trust Point Inc. now owns 897 shares of the company’s stock worth $349,000 after acquiring an additional 27 shares during the last quarter. First Pacific Financial raised its stake in Trane Technologies by 1.1% during the third quarter. First Pacific Financial now owns 2,674 shares of the company’s stock worth $1,039,000 after purchasing an additional 28 shares during the period. Wescott Financial Advisory Group LLC raised its stake in Trane Technologies by 1.7% during the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock worth $670,000 after purchasing an additional 28 shares during the period. Greenleaf Trust boosted its holdings in Trane Technologies by 0.5% in the 3rd quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock valued at $2,275,000 after purchasing an additional 29 shares during the last quarter. Finally, Lake Street Advisors Group LLC grew its stake in shares of Trane Technologies by 1.6% in the 3rd quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company’s stock valued at $737,000 after buying an additional 30 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Northcoast Research assumed coverage on Trane Technologies in a research report on Friday. They issued a “buy” rating and a $500.00 target price on the stock. 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. Barclays upped their target price on shares of Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Morgan Stanley assumed coverage on shares of Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 target price for the company. One equities 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $397.64.

Trane Technologies Trading Up 0.5 %

TT opened at $417.49 on Monday. The business has a fifty day moving average price of $394.03 and a 200 day moving average price of $356.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies plc has a 12 month low of $221.22 and a 12 month high of $421.78. The stock has a market capitalization of $93.94 billion, a price-to-earnings ratio of 38.73, a PEG ratio of 2.64 and a beta of 1.02.

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

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid 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 currently 31.17%.

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.