Douglass Winthrop Advisors LLC Sells 7,775 Shares of Trane Technologies plc (NYSE:TT)

Douglass Winthrop Advisors LLC decreased its position in shares of Trane Technologies plc (NYSE:TT) by 23.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,869 shares of the company’s stock after selling 7,775 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Trane Technologies were worth $10,056,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of TT. MidAtlantic Capital Management Inc. bought a new position in shares of Trane Technologies during the third quarter worth $27,000. DT Investment Partners LLC bought a new stake in shares of Trane Technologies in the third quarter worth about $36,000. Pittenger & Anderson Inc. bought a new stake in shares of Trane Technologies in the third quarter worth about $39,000. Fortitude Family Office LLC lifted its position in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after purchasing an additional 43 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in Trane Technologies during the second quarter worth approximately $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 0.5 %

NYSE:TT opened at $417.49 on Monday. The company’s 50-day simple moving average is $394.03 and its 200-day simple moving average is $356.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies plc has a fifty-two week low of $221.22 and a fifty-two week high of $421.78. The stock has a market capitalization of $93.94 billion, a P/E ratio of 38.73, a P/E/G ratio of 2.64 and a beta of 1.02.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.79 earnings per share. On average, equities analysts anticipate that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.80%. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

Analyst Ratings Changes

Several research analysts have issued reports on TT shares. Barclays boosted their target price on Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Stephens restated an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. Robert W. Baird decreased their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Northcoast Research started coverage on Trane Technologies in a research note on Friday. They issued a “buy” rating and a $500.00 price objective on the stock. Finally, HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $397.64.

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.