Washington Trust Bank Has $586,000 Holdings in Trane Technologies plc (NYSE:TT)

Washington Trust Bank grew its position in Trane Technologies plc (NYSE:TT) by 5.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,587 shares of the company’s stock after acquiring an additional 86 shares during the period. Washington Trust Bank’s holdings in Trane Technologies were worth $586,000 as of its most recent filing with the SEC.

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

Trane Technologies Trading Down 0.6 %

Shares of Trane Technologies stock opened at $347.30 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The stock has a market capitalization of $77.90 billion, a P/E ratio of 30.87, a P/E/G ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 52-week low of $286.32 and a 52-week high of $422.00. The stock’s 50-day simple moving average is $361.24 and its 200 day simple moving average is $379.52.

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

Trane Technologies Increases Dividend

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

Analyst Ratings Changes

TT has been the subject of several recent research reports. Melius Research reiterated a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. Wells Fargo & Company dropped their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Northcoast Research started coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective for the company. UBS Group cut their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Royal Bank of Canada boosted their price objective 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and an average target price of $413.69.

Insider Buying and Selling

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the sale, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. This represents a 1.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 770 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the transaction, the chief financial officer now owns 62,221 shares of the company’s stock, valued at $22,299,384.19. This trade represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,234 shares of company stock valued at $2,588,102. Corporate insiders own 0.38% of the company’s stock.

About Trane Technologies

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.