Washington Trust Advisors Inc. Sells 34 Shares of Trane Technologies plc (NYSE:TT)

Washington Trust Advisors Inc. decreased its position in Trane Technologies plc (NYSE:TT) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 872 shares of the company’s stock after selling 34 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Trane Technologies were worth $322,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Inceptionr LLC grew its stake in shares of Trane Technologies by 368.9% in the fourth quarter. Inceptionr LLC now owns 3,282 shares of the company’s stock worth $1,212,000 after acquiring an additional 2,582 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Trane Technologies in the fourth quarter worth $611,322,000. Arizona State Retirement System grew its stake in shares of Trane Technologies by 0.3% in the fourth quarter. Arizona State Retirement System now owns 65,090 shares of the company’s stock worth $24,041,000 after acquiring an additional 190 shares during the last quarter. Proficio Capital Partners LLC grew its stake in shares of Trane Technologies by 28.3% in the fourth quarter. Proficio Capital Partners LLC now owns 685 shares of the company’s stock worth $253,000 after acquiring an additional 151 shares during the last quarter. Finally, Assetmark Inc. grew its stake in shares of Trane Technologies by 3.5% in the fourth quarter. Assetmark Inc. now owns 19,459 shares of the company’s stock worth $7,187,000 after acquiring an additional 658 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 1.6 %

Trane Technologies stock opened at $348.78 on Thursday. The business has a 50-day simple moving average of $369.25 and a two-hundred day simple moving average of $380.46. The company has a market cap of $78.23 billion, a P/E ratio of 31.00, a P/E/G ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 52-week low of $279.00 and a 52-week high of $422.00. 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 (NYSE:TT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Analysts predict 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. Stockholders of record on Friday, March 7th will be given a dividend of $0.94 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s payout ratio is presently 29.87%.

Insider Activity

In related news, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the transaction, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock valued at $2,588,102 in the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of recent research reports. Barclays increased their target price on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Citigroup cut their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price objective on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Royal Bank of Canada lifted their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and a consensus target price of $415.25.

Trane Technologies 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.