Connor Clark & Lunn Investment Management Ltd. Has $33.85 Million Stock Holdings in Trane Technologies plc $TT

Connor Clark & Lunn Investment Management Ltd. raised its position in Trane Technologies plc (NYSE:TT) by 147.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,393 shares of the company’s stock after acquiring an additional 46,170 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Trane Technologies were worth $33,852,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Nuveen LLC bought a new position in Trane Technologies in the first quarter worth $877,468,000. Wellington Management Group LLP raised its stake in shares of Trane Technologies by 245.1% in the 1st quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company’s stock valued at $722,493,000 after buying an additional 1,522,933 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Trane Technologies by 9.8% during the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock worth $5,297,235,000 after acquiring an additional 1,408,421 shares during the period. Nordea Investment Management AB boosted its position in shares of Trane Technologies by 89.1% during the 2nd quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock valued at $1,066,845,000 after acquiring an additional 1,157,405 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Trane Technologies by 95.1% in the first quarter. AQR Capital Management LLC now owns 885,039 shares of the company’s stock valued at $291,727,000 after acquiring an additional 431,495 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.4%

Shares of NYSE TT opened at $434.01 on Monday. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The firm’s 50-day simple moving average is $418.82 and its 200 day simple moving average is $423.27. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The company has a market cap of $96.24 billion, a price-to-earnings ratio of 34.42, a price-to-earnings-growth ratio of 2.66 and a beta of 1.16.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, October 30th. The company reported $3.88 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.08. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the previous year, the firm posted $3.37 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. On average, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s dividend payout ratio (DPR) is 28.92%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their price objective on Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Barclays boosted their price target on Trane Technologies from $485.00 to $495.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Wells Fargo & Company lifted their price objective on Trane Technologies from $410.00 to $415.00 and gave the company an “underweight” rating in a report on Monday, October 6th. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and boosted their target price for the company from $415.00 to $460.00 in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $466.50.

Insiders Place Their Bets

In other news, CAO Elizabeth A. Elwell sold 600 shares of the company’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $440.00, for a total transaction of $264,000.00. Following the transaction, the chief accounting officer owned 7,148 shares of the company’s stock, valued at $3,145,120. This represents a 7.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David S. Regnery sold 22,497 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total value of $9,223,770.00. Following the completion of the transaction, the chief executive officer owned 123,713 shares in the company, valued at approximately $50,722,330. This represents a 15.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.14% of the company’s stock.

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.