Douglass Winthrop Advisors LLC Decreases Stock Holdings in Trane Technologies plc $TT

Key Points

• Douglass Winthrop Advisors LLC reduced its stake in Trane Technologies plc by 2.6%, resulting in ownership of 24,981 shares valued at approximately $8.4 million.
• Several analysts have revised their price targets for Trane Technologies, with Citigroup increasing theirs from $445 to $502 and maintaining a "buy" rating.
• Trane Technologies announced a quarterly dividend of $0.94 per share, reflecting an annualized dividend of $3.76 and a yield of 0.9%.

Douglass Winthrop Advisors LLC decreased its position in Trane Technologies plc (NYSE:TT - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,981 shares of the company's stock after selling 673 shares during the period. Douglass Winthrop Advisors LLC's holdings in Trane Technologies were worth $8,417,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Trane Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company's stock valued at $6,555,377,000 after buying an additional 221,206 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Trane Technologies by 9.8% in the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock valued at $5,297,235,000 after buying an additional 1,408,421 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Trane Technologies by 7.2% in the 1st quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company's stock valued at $1,208,044,000 after buying an additional 241,910 shares during the period. Nuveen LLC acquired a new position in shares of Trane Technologies in the 1st quarter worth approximately $877,468,000. Finally, Northern Trust Corp lifted its holdings in shares of Trane Technologies by 0.7% in the 1st quarter. Northern Trust Corp now owns 2,584,819 shares of the company's stock worth $870,877,000 after acquiring an additional 17,292 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

TT has been the topic of several recent analyst reports. HSBC lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and upped their price objective for the stock from $415.00 to $460.00 in a report on Thursday, July 31st. Robert W. Baird upped their price objective on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. UBS Group upped their price objective on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Citigroup upped their price objective on shares of Trane Technologies from $445.00 to $502.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Trane Technologies currently has a consensus rating of "Hold" and a consensus target price of $458.60.

Trane Technologies Stock Up 0.3%

Shares of TT traded up $1.18 during midday trading on Thursday, reaching $425.37. The stock had a trading volume of 350,414 shares, compared to its average volume of 1,441,906. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The company's fifty day simple moving average is $435.69 and its two-hundred day simple moving average is $395.09. The company has a market cap of $94.65 billion, a price-to-earnings ratio of 33.73, a PEG ratio of 2.66 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same period last year, the business earned $3.30 EPS. Trane Technologies's revenue for the quarter was up 7.6% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio is presently 29.82%.

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.