CIBC Asset Management Inc Buys 2,452 Shares of Trane Technologies plc (NYSE:TT)

CIBC Asset Management Inc lifted its holdings in Trane Technologies plc (NYSE:TT) by 8.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 32,942 shares of the company’s stock after acquiring an additional 2,452 shares during the quarter. CIBC Asset Management Inc’s holdings in Trane Technologies were worth $12,806,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Blair William & Co. IL increased its stake in shares of Trane Technologies by 1.6% in the first quarter. Blair William & Co. IL now owns 17,261 shares of the company’s stock worth $5,182,000 after buying an additional 265 shares during the period. First Foundation Advisors increased its position in Trane Technologies by 84.7% during the 1st quarter. First Foundation Advisors now owns 665 shares of the company’s stock valued at $200,000 after purchasing an additional 305 shares during the period. TIAA Trust National Association increased its position in Trane Technologies by 2.1% during the 1st quarter. TIAA Trust National Association now owns 4,899 shares of the company’s stock valued at $1,471,000 after purchasing an additional 99 shares during the period. Resurgent Financial Advisors LLC increased its position in Trane Technologies by 45.2% during the 1st quarter. Resurgent Financial Advisors LLC now owns 1,575 shares of the company’s stock valued at $473,000 after purchasing an additional 490 shares during the period. Finally, Trustmark National Bank Trust Department increased its position in Trane Technologies by 3.0% during the 1st quarter. Trustmark National Bank Trust Department now owns 4,867 shares of the company’s stock valued at $1,461,000 after purchasing an additional 141 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on TT. Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. The Goldman Sachs Group upped their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Stephens reaffirmed an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a research report on Monday, August 5th. Robert W. Baird reduced their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Mizuho upped their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average price target of $389.77.

Trane Technologies Trading Down 0.6 %

Shares of TT opened at $407.49 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies plc has a 1 year low of $221.22 and a 1 year high of $421.78. The company has a 50 day simple moving average of $388.09 and a two-hundred day simple moving average of $353.05. The firm has a market cap of $91.69 billion, a P/E ratio of 37.80, a price-to-earnings-growth ratio of 2.63 and a beta of 1.02.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm posted $2.79 EPS. On average, equities analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.82%. Trane Technologies’s dividend payout ratio is presently 31.17%.

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.