Cibc World Markets Corp Buys 4,844 Shares of Trane Technologies plc (NYSE:TT)

Cibc World Markets Corp lifted its position in Trane Technologies plc (NYSE:TT - Free Report) by 15.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,515 shares of the company's stock after acquiring an additional 4,844 shares during the quarter. Cibc World Markets Corp's holdings in Trane Technologies were worth $13,117,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates acquired a new position in Trane Technologies during the fourth quarter valued at $26,000. MidAtlantic Capital Management Inc. purchased a new position in Trane Technologies during the 3rd quarter valued at about $27,000. Sound Income Strategies LLC increased its holdings in shares of Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock valued at $37,000 after purchasing an additional 92 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of Trane Technologies in the fourth quarter worth approximately $39,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Trane Technologies during the third quarter worth approximately $44,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research report on Friday, January 3rd. Melius Research reissued a "hold" rating and set a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Melius lowered 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. Citigroup reduced their price target on Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a report on Monday, January 13th. Finally, UBS Group dropped their price objective on Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a 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 given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $413.69.

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Trane Technologies Stock Performance

Shares of Trane Technologies stock traded down $2.03 during trading on Friday, reaching $347.30. The company's stock had a trading volume of 1,712,053 shares, compared to its average volume of 1,597,950. Trane Technologies plc has a one year low of $286.32 and a one year high of $422.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The firm has a market cap of $77.90 billion, a price-to-earnings ratio of 30.87, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The business's fifty day moving average price is $361.84 and its 200-day moving average price is $379.62.

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

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued 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 dividend on an annualized basis and a yield of 1.08%. Trane Technologies's dividend payout ratio is 33.42%.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 198 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the transaction, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the sale, the chief financial officer now owns 63,841 shares in the company, valued at $22,818,050.22. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is currently owned by company insiders.

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.