Investment Management Corp of Ontario Purchases 2,431 Shares of Trane Technologies plc (NYSE:TT)

Investment Management Corp of Ontario raised its position in Trane Technologies plc (NYSE:TT) by 21.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,576 shares of the company’s stock after purchasing an additional 2,431 shares during the period. Investment Management Corp of Ontario’s holdings in Trane Technologies were worth $5,014,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Trane Technologies by 1.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 59,837 shares of the company’s stock worth $23,260,000 after acquiring an additional 745 shares in the last quarter. ST Germain D J Co. Inc. raised its holdings in Trane Technologies by 9.1% during the 4th quarter. ST Germain D J Co. Inc. now owns 4,053 shares of the company’s stock worth $1,497,000 after buying an additional 337 shares during the period. Czech National Bank lifted its stake in Trane Technologies by 6.1% in the fourth quarter. Czech National Bank now owns 48,790 shares of the company’s stock valued at $18,021,000 after buying an additional 2,819 shares in the last quarter. Fiduciary Alliance LLC acquired a new position in shares of Trane Technologies in the fourth quarter valued at approximately $838,000. Finally, Wedmont Private Capital raised its holdings in shares of Trane Technologies by 4.8% during the fourth quarter. Wedmont Private Capital now owns 2,983 shares of the company’s stock worth $1,125,000 after acquiring an additional 136 shares during the period. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TT has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Trane Technologies from $323.00 to $334.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Stephens raised Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 target price on the stock in a research report on Thursday, May 1st. Barclays reduced their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Wells Fargo & Company increased their target price on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an “underweight” rating in a report on Thursday, May 1st. Finally, Royal Bank of Canada lifted their price target on shares of Trane Technologies from $363.00 to $408.00 and gave the company a “sector perform” rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $421.07.

Insider Buying and Selling

In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the completion of the sale, the senior vice president now owns 20,513 shares of the company’s stock, valued at $7,346,115.56. The trade was a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David S. Regnery sold 2,318 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.17, for a total transaction of $830,238.06. Following the transaction, the chief executive officer now directly owns 126,831 shares in the company, valued at $45,427,059.27. This represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,977 shares of company stock valued at $2,577,061. Insiders own 0.38% of the company’s stock.

Trane Technologies Stock Down 0.3 %

TT opened at $404.32 on Friday. The stock’s fifty day simple moving average is $350.05 and its 200 day simple moving average is $372.29. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $422.00. The stock has a market cap of $90.17 billion, a PE ratio of 35.94, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.25. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The company’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.94 earnings per share. As a group, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.93%. Trane Technologies’s dividend payout ratio (DPR) is currently 31.28%.

About Trane Technologies

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.