CIBC Asset Management Inc Buys 1,416 Shares of Trane Technologies plc (NYSE:TT)

CIBC Asset Management Inc raised its position in Trane Technologies plc (NYSE:TT - Free Report) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,358 shares of the company's stock after purchasing an additional 1,416 shares during the quarter. CIBC Asset Management Inc's holdings in Trane Technologies were worth $12,690,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company's stock valued at $639,514,000 after buying an additional 1,640,569 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Trane Technologies by 35.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company's stock valued at $991,460,000 after acquiring an additional 671,691 shares in the last quarter. FMR LLC raised its position in shares of Trane Technologies by 4.0% in the third quarter. FMR LLC now owns 10,337,672 shares of the company's stock valued at $4,018,563,000 after purchasing an additional 397,537 shares during the period. Nordea Investment Management AB raised its position in shares of Trane Technologies by 42.9% in the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock valued at $361,874,000 after purchasing an additional 293,916 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Trane Technologies by 76.9% in the third quarter. Assenagon Asset Management S.A. now owns 417,193 shares of the company's stock valued at $162,175,000 after purchasing an additional 181,335 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Price Performance

NYSE:TT traded down $12.08 during trading hours on Friday, reaching $354.56. The company had a trading volume of 1,163,504 shares, compared to its average volume of 1,485,568. The stock has a 50-day moving average of $375.72 and a two-hundred day moving average of $379.16. Trane Technologies plc has a one year low of $279.00 and a one year high of $422.00. The firm has a market capitalization of $79.52 billion, a PE ratio of 31.52, a PEG ratio of 2.53 and a beta of 1.05. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Trane Technologies's previous quarterly dividend of $0.84. Trane Technologies's dividend payout ratio is presently 29.87%.

Wall Street Analysts Forecast Growth

TT has been the topic of several recent analyst reports. HSBC downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 target price on the stock. in a report on Thursday, October 31st. Royal Bank of Canada lifted their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. lifted their price target on Trane Technologies from $387.00 to $396.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Robert W. Baird dropped their price target on 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, Melius lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price on the stock. in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $415.25.

Insider Transactions at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the sale, the senior vice president now directly owns 12,893 shares of the company's stock, valued at $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David S. Regnery sold 2,754 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the transaction, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,563 shares of company stock worth $4,388,966. Insiders own 0.38% 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.