TD Asset Management Inc. Raises Position in Trane Technologies plc (NYSE:TT)

TD Asset Management Inc. increased its holdings in Trane Technologies plc (NYSE:TT) by 6.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,079,456 shares of the company’s stock after purchasing an additional 60,986 shares during the period. TD Asset Management Inc.’s holdings in Trane Technologies were worth $398,697,000 at the end of the most recent quarter.

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

Insider Activity

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the sale, the chief financial officer now owns 63,841 shares in the company, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David S. Regnery sold 2,754 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is currently owned by insiders.

Trane Technologies Stock Up 3.3 %

Shares of Trane Technologies stock opened at $358.58 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a 1-year low of $286.32 and a 1-year high of $422.00. The business has a 50-day moving average of $360.87 and a 200-day moving average of $380.10. The company has a market capitalization of $80.43 billion, a PE ratio of 31.87, a P/E/G ratio of 2.50 and a beta of 1.08.

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

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Melius Research restated a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Citigroup dropped their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. UBS Group reduced their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. 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. Finally, Barclays reduced 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and an average price target of $413.69.

Trane Technologies 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.