Douglass Winthrop Advisors LLC Sells 1,536 Shares of Trane Technologies plc (NYSE:TT)

Douglass Winthrop Advisors LLC cut its position in shares of Trane Technologies plc (NYSE:TTFree Report) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,305 shares of the company’s stock after selling 1,536 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Trane Technologies were worth $9,099,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. NBC Securities Inc. bought a new position in shares of Trane Technologies during the third quarter valued at approximately $66,000. Lincoln National Corp bought a new stake in Trane Technologies during the 3rd quarter valued at $333,000. Victory Capital Management Inc. increased its holdings in shares of Trane Technologies by 2.3% in the 3rd quarter. Victory Capital Management Inc. now owns 171,636 shares of the company’s stock valued at $34,827,000 after acquiring an additional 3,899 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Trane Technologies by 1.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 9,869 shares of the company’s stock worth $2,003,000 after acquiring an additional 183 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its stake in shares of Trane Technologies by 22.1% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 41,354 shares of the company’s stock worth $8,391,000 after purchasing an additional 7,496 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

Shares of NYSE TT traded up $5.00 during trading on Monday, reaching $337.92. 539,700 shares of the company traded hands, compared to its average volume of 998,985. The stock has a market cap of $76.49 billion, a P/E ratio of 36.10, a PEG ratio of 2.69 and a beta of 1.01. The firm’s fifty day simple moving average is $310.09 and its 200 day simple moving average is $273.38. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 12-month low of $162.04 and a 12-month high of $338.09.

Trane Technologies (NYSE:TTGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. The company had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. Trane Technologies’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.41 earnings per share. As a group, research analysts anticipate that Trane Technologies plc will post 10.46 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.36 annualized dividend and a yield of 0.99%. Trane Technologies’s dividend payout ratio is presently 35.90%.

Insider Buying and Selling at Trane Technologies

In related news, SVP Evan M. Turtz sold 2,821 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $288.33, for a total value of $813,378.93. Following the completion of the transaction, the senior vice president now owns 20,729 shares of the company’s stock, valued at approximately $5,976,792.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Donald E. Simmons sold 3,763 shares of Trane Technologies stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $288.31, for a total value of $1,084,910.53. Following the sale, the insider now owns 3,388 shares in the company, valued at $976,794.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Evan M. Turtz sold 2,821 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $288.33, for a total transaction of $813,378.93. Following the transaction, the senior vice president now owns 20,729 shares of the company’s stock, valued at approximately $5,976,792.57. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,979 shares of company stock valued at $6,603,372. Corporate insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on TT. The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Wells Fargo & Company increased their target price on shares of Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Barclays raised their price objective on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Citigroup upped their target price on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $300.54.

Check Out Our Latest Stock Report on TT

Trane Technologies Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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