Washington Trust Bank Sells 225 Shares of Trane Technologies plc (NYSE:TT)

Washington Trust Bank decreased its stake in shares of Trane Technologies plc (NYSE:TT) by 13.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,501 shares of the company’s stock after selling 225 shares during the period. Washington Trust Bank’s holdings in Trane Technologies were worth $583,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TT. Norden Group LLC bought a new position in Trane Technologies in the 1st quarter worth approximately $646,000. SPC Financial Inc. bought a new stake in shares of Trane Technologies during the first quarter worth $209,000. Advisory Alpha LLC acquired a new position in shares of Trane Technologies during the first quarter valued at $201,000. Manchester Capital Management LLC boosted its holdings in Trane Technologies by 102.7% in the first quarter. Manchester Capital Management LLC now owns 1,423 shares of the company’s stock valued at $427,000 after acquiring an additional 721 shares during the last quarter. Finally, Duality Advisers LP bought a new stake in Trane Technologies during the 1st quarter worth about $331,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Robert W. Baird dropped their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Morgan Stanley started coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target on the stock. Royal Bank of Canada upped their price objective on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. Finally, Stephens restated an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $380.15.

Trane Technologies Stock Down 0.2 %

NYSE TT traded down $0.87 during trading hours on Thursday, reaching $390.99. 21,062 shares of the company’s stock were exchanged, compared to its average volume of 1,108,077. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies plc has a one year low of $219.68 and a one year high of $406.96. The company’s 50-day moving average is $379.11 and its two-hundred day moving average is $347.42. The company has a market capitalization of $87.98 billion, a price-to-earnings ratio of 36.35, a price-to-earnings-growth ratio of 2.39 and a beta of 1.02.

Trane Technologies (NYSE:TT) last announced 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. The firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.79 EPS. On average, analysts forecast that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared 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. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 31.17%.

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.