Trane Technologies plc (NYSE:TT) Shares Acquired by TD Asset Management Inc.

TD Asset Management Inc. boosted its position in Trane Technologies plc (NYSE:TT) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,079,456 shares of the company’s stock after acquiring an additional 60,986 shares during the quarter. TD Asset Management Inc. owned 0.48% of Trane Technologies worth $398,697,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in TT. Advisors Asset Management Inc. increased its stake in Trane Technologies by 23.7% in the third quarter. Advisors Asset Management Inc. now owns 3,728 shares of the company’s stock valued at $1,449,000 after purchasing an additional 714 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Trane Technologies by 40.4% during the third quarter. Cerity Partners LLC now owns 87,093 shares of the company’s stock worth $33,856,000 after buying an additional 25,045 shares during the period. Kingsview Wealth Management LLC grew its holdings in shares of Trane Technologies by 1.6% during the third quarter. Kingsview Wealth Management LLC now owns 4,590 shares of the company’s stock worth $1,784,000 after buying an additional 72 shares during the last quarter. Larson Financial Group LLC increased its position in Trane Technologies by 5.3% in the 3rd quarter. Larson Financial Group LLC now owns 1,174 shares of the company’s stock valued at $456,000 after acquiring an additional 59 shares during the period. Finally, Summit Trail Advisors LLC raised its stake in Trane Technologies by 7.6% during the 3rd quarter. Summit Trail Advisors LLC now owns 4,281 shares of the company’s stock valued at $1,664,000 after acquiring an additional 302 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on TT shares. Royal Bank of Canada lifted 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. Barclays lowered their price objective 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. UBS Group cut their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, Melius Research reiterated a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average target price of $413.69.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 2,754 shares of the stock in a transaction 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 sale, the chief executive officer now owns 132,969 shares of the company’s stock, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 770 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the completion of the transaction, the chief financial officer now directly owns 62,221 shares of the company’s stock, valued at $22,299,384.19. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Price Performance

TT stock opened at $358.58 on Tuesday. The firm has a 50 day moving average of $360.87 and a 200-day moving average of $380.10. The company has a market cap of $80.43 billion, a price-to-earnings ratio of 31.87, 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. Trane Technologies plc has a 12-month low of $286.32 and a 12-month high of $422.00.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (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 analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a $0.94 dividend. The ex-dividend date is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.05%. Trane Technologies’s payout ratio is currently 33.42%.

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.