TD Waterhouse Canada Inc. increased its position in Trane Technologies plc (NYSE:TT - Free Report) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,918 shares of the company's stock after buying an additional 1,135 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Trane Technologies were worth $14,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Trane Technologies during the fourth quarter valued at $1,117,816,000. Raymond James Financial Inc. acquired a new position in shares of Trane Technologies in the 4th quarter valued at about $611,322,000. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Trane Technologies by 455.2% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company's stock valued at $167,977,000 after purchasing an additional 350,277 shares in the last quarter. Nordea Investment Management AB grew its stake in Trane Technologies by 42.9% during the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock worth $361,874,000 after purchasing an additional 293,916 shares during the period. Finally, Caisse Des Depots ET Consignations bought a new stake in Trane Technologies in the fourth quarter worth approximately $98,560,000. Institutional investors own 82.97% of the company's stock.
Insider Buying and Selling at Trane Technologies
In related news, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the transaction, the chief financial officer now owns 62,221 shares in the company, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the firm'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 sale, the senior vice president now owns 13,401 shares of the company's stock, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock valued at $2,588,102 over the last ninety days. 0.38% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
TT has been the subject of a number of research reports. Melius cut shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price target for the company. in a report on Tuesday, January 28th. Royal Bank of Canada raised their target price on Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research note on Friday, January 3rd. Wells Fargo & Company dropped their price target on Trane Technologies from $380.00 to $360.00 and set an "underweight" rating on the stock in a research note on Friday, January 31st. Citigroup reduced their price objective on Trane Technologies from $476.00 to $415.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Barclays lowered their target price 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. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $405.31.
Check Out Our Latest Report on TT
Trane Technologies Stock Performance
Shares of TT stock traded up $6.96 on Thursday, reaching $342.83. The stock had a trading volume of 1,261,471 shares, compared to its average volume of 1,307,900. The stock has a market cap of $76.89 billion, a P/E ratio of 30.47, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a 1 year low of $291.37 and a 1 year high of $422.00. The company has a 50 day simple moving average of $342.66 and a 200 day simple moving average of $373.33.
Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results 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%. Equities research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.
Trane Technologies Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 1.10%. Trane Technologies's payout ratio is presently 33.42%.
About Trane Technologies
(
Free Report)
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.
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