National Bank of Canada FI Purchases 4,264 Shares of Trane Technologies plc (NYSE:TT)

National Bank of Canada FI raised its stake in shares of Trane Technologies plc (NYSE:TT) by 2.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 182,557 shares of the company’s stock after purchasing an additional 4,264 shares during the period. National Bank of Canada FI owned 0.08% of Trane Technologies worth $43,930,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TT. Wellington Management Group LLP grew its position in Trane Technologies by 36.4% in the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after acquiring an additional 436,997 shares in the last quarter. Xponance Inc. boosted its holdings in Trane Technologies by 18.6% during the 4th quarter. Xponance Inc. now owns 43,825 shares of the company’s stock valued at $10,689,000 after acquiring an additional 6,869 shares during the period. CHICAGO TRUST Co NA grew its holdings in shares of Trane Technologies by 2.1% in the fourth quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock worth $765,000 after purchasing an additional 64 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Trane Technologies by 60.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock worth $27,375,000 after buying an additional 42,409 shares during the period. Finally, Wealth Effects LLC purchased a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $239,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Up 2.0 %

Shares of Trane Technologies stock traded up $6.51 during trading hours on Monday, hitting $325.80. 306,112 shares of the company’s stock traded hands, compared to its average volume of 1,024,746. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $327.09. The company has a market cap of $73.74 billion, a PE ratio of 34.59, a PEG ratio of 2.54 and a beta of 1.01. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The stock has a 50 day simple moving average of $295.83 and a 200-day simple moving average of $258.71.

Trane Technologies (NYSE:TT) last released its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.30. The firm had revenue of $4.22 billion during the quarter, compared to analyst estimates of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 earnings per share. Equities research analysts anticipate that Trane Technologies plc will post 10.48 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.84 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.03%. Trane Technologies’s dividend payout ratio is presently 35.90%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TT shares. TD Cowen boosted their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Barclays upped their price target on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Citigroup increased their price objective on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Royal Bank of Canada raised their target price on Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Finally, Mizuho raised their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $300.54.

Insider Activity

In other news, SVP Keith A. Sultana sold 1,983 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total value of $539,891.58. Following the completion of the sale, the senior vice president now owns 42,575 shares of the company’s stock, valued at $11,591,469.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Keith A. Sultana sold 1,983 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $272.26, for a total value of $539,891.58. Following the sale, the senior vice president now owns 42,575 shares in the company, valued at $11,591,469.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Paul A. Camuti sold 508 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the sale, the executive vice president now directly owns 89,447 shares in the company, valued at approximately $24,449,442.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,237 shares of company stock worth $8,024,534. Corporate insiders own 0.39% of the company’s stock.

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.