Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 2,277.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,618 shares of the company's stock after purchasing an additional 33,162 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Trane Technologies were worth $12,786,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. Tidal Investments LLC raised its stake in Trane Technologies by 22.2% in the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company's stock valued at $6,152,000 after purchasing an additional 2,874 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of Trane Technologies by 16.8% in the third quarter. Synovus Financial Corp now owns 8,828 shares of the company's stock worth $3,431,000 after buying an additional 1,271 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in Trane Technologies during the fourth quarter worth about $468,000. HB Wealth Management LLC grew its stake in Trane Technologies by 14.3% during the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company's stock valued at $2,101,000 after acquiring an additional 711 shares in the last quarter. Finally, King Wealth Management Group acquired a new stake in Trane Technologies in the 3rd quarter valued at about $1,879,000. Institutional investors and hedge funds own 82.97% of the company's stock.
Analyst Ratings Changes
TT has been the subject of a number of analyst reports. Wells Fargo & Company dropped their price target on Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a research report on Friday, January 31st. Northcoast Research initiated coverage on Trane Technologies in a research note on Friday, November 22nd. They issued a "buy" rating and a $500.00 target price for the company. Barclays lowered their price target on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a report on Friday, January 3rd. Finally, Melius Research restated a "hold" rating and set a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. One equities research 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $413.69.
Get Our Latest Research Report on Trane Technologies
Insider Transactions at Trane Technologies
In related news, CEO David S. Regnery sold 2,754 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,234 shares of company stock valued at $2,588,102. Insiders own 0.38% of the company's stock.
Trane Technologies Stock Up 1.8 %
NYSE:TT traded up $6.22 during midday trading on Wednesday, reaching $350.28. The company had a trading volume of 1,078,889 shares, compared to its average volume of 1,160,154. Trane Technologies plc has a 12-month low of $286.32 and a 12-month high of $422.00. The firm has a market capitalization of $78.56 billion, a price-to-earnings ratio of 31.14, a PEG 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 stock's fifty day simple moving average is $363.30 and its 200-day simple moving average is $380.04.
Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.
Trane Technologies Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.07%. This is a positive change from Trane Technologies's previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies's dividend payout ratio (DPR) is presently 33.42%.
Trane Technologies Company Profile
(
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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