Washington Trust Bank Buys 86 Shares of Trane Technologies plc (NYSE:TT)

Washington Trust Bank raised its position in shares of Trane Technologies plc (NYSE:TT) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,587 shares of the company’s stock after purchasing an additional 86 shares during the period. Washington Trust Bank’s holdings in Trane Technologies were worth $586,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC raised its holdings in shares of Trane Technologies by 625.9% during the 4th quarter. TD Private Client Wealth LLC now owns 7,310 shares of the company’s stock valued at $2,700,000 after buying an additional 6,303 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in shares of Trane Technologies during the 4th quarter valued at $129,000. Semanteon Capital Management LP purchased a new stake in Trane Technologies during the fourth quarter valued at about $1,107,000. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Trane Technologies by 6.9% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 2,300 shares of the company’s stock valued at $849,000 after buying an additional 148 shares during the last quarter. Finally, Blueshift Asset Management LLC purchased a new position in shares of Trane Technologies in the fourth quarter worth about $270,000. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 2,754 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the transaction, the chief financial officer now owns 63,841 shares of the company’s stock, valued at $22,818,050.22. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,234 shares of company stock valued at $2,588,102. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Trading Down 0.6 %

TT opened at $347.30 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 52 week low of $286.32 and a 52 week high of $422.00. The stock has a market cap of $77.90 billion, a PE ratio of 30.87, a PEG ratio of 2.50 and a beta of 1.08. The business has a 50 day moving average of $361.24 and a 200-day moving average of $379.52.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Equities research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is 33.42%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TT. Royal Bank of Canada raised their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Citigroup cut their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Barclays lowered their price target on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, March 10th. JPMorgan Chase & Co. raised their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Northcoast Research began coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $413.69.

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.