Cumberland Partners Ltd Purchases New Holdings in Trane Technologies plc (NYSE:TT)

Cumberland Partners Ltd purchased a new stake in Trane Technologies plc (NYSE:TT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,635 shares of the company’s stock, valued at approximately $393,000.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of Trane Technologies by 36.4% in the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock valued at $332,581,000 after buying an additional 436,997 shares during the period. Xponance Inc. boosted its stake in shares of Trane Technologies by 18.6% in the fourth quarter. Xponance Inc. now owns 43,825 shares of the company’s stock valued at $10,689,000 after buying an additional 6,869 shares during the period. CHICAGO TRUST Co NA raised its position in Trane Technologies by 2.1% during the fourth quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock valued at $765,000 after purchasing an additional 64 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Trane Technologies by 60.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock valued at $27,375,000 after purchasing an additional 42,409 shares in the last quarter. Finally, Wealth Effects LLC acquired a new position in Trane Technologies during the fourth quarter valued at approximately $239,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TT has been the subject of several research analyst reports. Citigroup boosted their price objective on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, April 8th. The Goldman Sachs Group boosted their price objective on shares of Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. Barclays boosted their price objective on shares of Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Finally, Stephens boosted their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $251.83.

Trane Technologies Trading Up 0.2 %

NYSE TT traded up $0.67 on Wednesday, reaching $295.76. The company had a trading volume of 654,167 shares, compared to its average volume of 990,617. The firm has a market cap of $67.16 billion, a price-to-earnings ratio of 33.56, a P/E/G ratio of 2.46 and a beta of 1.05. Trane Technologies plc has a fifty-two week low of $162.04 and a fifty-two week high of $306.98. The business has a 50 day moving average of $290.57 and a two-hundred day moving average of $252.93. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. Trane Technologies’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.82 earnings per share. Analysts forecast that Trane Technologies plc will post 10.2 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.14%. Trane Technologies’s dividend payout ratio (DPR) is currently 38.23%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,767 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the sale, the chief financial officer now owns 54,788 shares of the company’s stock, valued at $14,700,168.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Evan M. Turtz sold 2,821 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $288.33, for a total transaction of $813,378.93. Following the transaction, the senior vice president now owns 20,729 shares of the company’s stock, valued at approximately $5,976,792.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 2,767 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total transaction of $742,413.77. Following the transaction, the chief financial officer now directly owns 54,788 shares in the company, valued at approximately $14,700,168.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,874 shares of company stock valued at $8,462,825. 0.39% of the stock is currently owned by insiders.

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.