iA Global Asset Management Inc. Sells 156,516 Shares of Trane Technologies plc (NYSE:TT)

iA Global Asset Management Inc. trimmed its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 95.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,160 shares of the company's stock after selling 156,516 shares during the period. iA Global Asset Management Inc.'s holdings in Trane Technologies were worth $2,783,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. MidAtlantic Capital Management Inc. purchased a new stake in Trane Technologies in the 3rd quarter worth approximately $27,000. DT Investment Partners LLC acquired a new position in shares of Trane Technologies in the 3rd quarter valued at $36,000. Triad Wealth Partners LLC acquired a new position in shares of Trane Technologies during the 2nd quarter valued at $39,000. Quarry LP purchased a new stake in Trane Technologies during the 2nd quarter worth $39,000. Finally, Pittenger & Anderson Inc. purchased a new position in Trane Technologies in the third quarter valued at about $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Down 2.5 %

Shares of Trane Technologies stock traded down $10.41 during midday trading on Monday, reaching $401.78. 1,712,682 shares of the company's stock traded hands, compared to its average volume of 1,118,567. The company has a market cap of $90.41 billion, a price-to-earnings ratio of 37.27, a price-to-earnings-growth ratio of 2.50 and a beta of 1.03. The company's 50 day simple moving average is $400.85 and its 200 day simple moving average is $362.45. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies plc has a 52 week low of $233.76 and a 52 week high of $422.00.

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

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.84%. Trane Technologies's dividend payout ratio (DPR) is presently 31.17%.

Insider Buying and Selling

In other news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction dated 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 in the company, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Mizuho raised their target price on Trane Technologies from $325.00 to $400.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Hsbc Global Res cut shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. Barclays upped their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the company an "overweight" rating in a research report on Thursday. Morgan Stanley started coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an "overweight" rating and a $425.00 price objective for the company. Finally, Wells Fargo & Company increased their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $409.93.

Trane Technologies Company 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.