Cibc World Markets Corp Has $13.12 Million Position in Trane Technologies plc (NYSE:TT)

Cibc World Markets Corp raised its holdings in shares of Trane Technologies plc (NYSE:TT) by 15.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,515 shares of the company’s stock after purchasing an additional 4,844 shares during the quarter. Cibc World Markets Corp’s holdings in Trane Technologies were worth $13,117,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Swedbank AB grew its stake in Trane Technologies by 2.8% in the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after buying an additional 20,400 shares during the last quarter. Atlanta Consulting Group Advisors LLC bought a new stake in shares of Trane Technologies during the third quarter worth approximately $206,000. Claro Advisors LLC bought a new position in shares of Trane Technologies during the third quarter worth approximately $441,000. Strengthening Families & Communities LLC lifted its holdings in Trane Technologies by 3.2% during the 3rd quarter. Strengthening Families & Communities LLC now owns 4,751 shares of the company’s stock worth $1,847,000 after purchasing an additional 147 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in Trane Technologies in the 3rd quarter valued at $27,000. 82.97% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Evan M. Turtz sold 318 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the transaction, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at $7,346,115.56. This trade represents a 1.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 876 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the sale, the chief financial officer now owns 63,841 shares in the company, valued at $22,818,050.22. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on TT. Barclays lowered their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Citigroup lowered their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Melius Research reiterated a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Finally, UBS Group reduced their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and a consensus price target of $413.69.

Trane Technologies Trading Up 1.1 %

Shares of Trane Technologies stock opened at $351.46 on Tuesday. The firm has a market capitalization of $78.83 billion, a PE ratio of 31.24, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average is $364.02 and its 200 day moving average is $380.16. Trane Technologies plc has a 1 year low of $286.32 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.07%. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

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.