Washington Trust Bank Has $583,000 Stock Holdings in Trane Technologies plc (NYSE:TT)

Washington Trust Bank lowered its stake in Trane Technologies plc (NYSE:TT) by 13.0% during the third quarter, Holdings Channel.com reports. The fund 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TT. Vanguard Group Inc. increased its position in shares of Trane Technologies by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock worth $5,670,032,000 after purchasing an additional 174,251 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Trane Technologies by 0.5% during the first quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock worth $5,221,599,000 after buying an additional 80,536 shares during the last quarter. International Assets Investment Management LLC raised its position in Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after acquiring an additional 1,640,569 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Trane Technologies by 1.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,438,515 shares of the company’s stock valued at $559,194,000 after acquiring an additional 18,403 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Trane Technologies by 0.3% in the 2nd quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock valued at $357,043,000 after acquiring an additional 2,898 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

TT has been the topic of a number of recent analyst reports. Barclays boosted their price target on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Morgan Stanley started coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 target price on the stock. Royal Bank of Canada lifted their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Stephens reissued an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Finally, Mizuho upped their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $380.15.

Trane Technologies Stock Performance

Shares of NYSE:TT traded down $0.87 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 current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a twelve month low of $219.68 and a twelve month high of $406.96. The company has a fifty day moving average of $379.11 and a 200-day moving average of $347.42. The company has a market capitalization of $87.98 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 2.39 and a beta of 1.02.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.79 earnings per share. On average, research analysts predict that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a $0.84 dividend. 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 presently 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.