Trane Technologies plc $TT Position Lessened by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,905 shares of the company’s stock after selling 1,295 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Trane Technologies were worth $25,278,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Financial Consulate Inc. bought a new stake in Trane Technologies in the third quarter valued at $25,000. Icon Advisers Inc. Co. acquired a new stake in shares of Trane Technologies in the 2nd quarter worth about $26,000. United Community Bank increased its holdings in shares of Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after acquiring an additional 43 shares during the period. Halbert Hargrove Global Advisors LLC lifted its position in Trane Technologies by 34.2% in the 3rd 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 last quarter. Finally, Hantz Financial Services Inc. boosted its stake in Trane Technologies by 58.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock valued at $45,000 after purchasing an additional 39 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target on the stock in a research note on Wednesday, January 7th. UBS Group reduced their price objective on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Wells Fargo & Company increased their price objective on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 30th. KeyCorp raised Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price on the stock in a research note on Monday, December 15th. Finally, Citigroup boosted their price target on Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

Insider Transactions at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 2,389 shares of Trane Technologies stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the transaction, the chief financial officer directly owned 60,486 shares of the company’s stock, valued at $27,986,872.20. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David S. Regnery sold 36,045 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the sale, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 49,378 shares of company stock valued at $21,228,464 in the last three months. 0.14% of the stock is currently owned by insiders.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $432.30 on Thursday. The stock has a market cap of $95.68 billion, a price-to-earnings ratio of 33.30, a PEG ratio of 2.28 and a beta of 1.19. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $479.37. The stock’s 50 day moving average price is $425.13 and its 200 day moving average price is $417.20.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The firm had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same period last year, the company posted $2.61 EPS. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be paid a dividend of $1.05 per share. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s dividend payout ratio (DPR) is 32.36%.

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.