Cibc World Markets Corp Purchases 4,844 Shares of Trane Technologies plc (NYSE:TT)

Cibc World Markets Corp raised its position in shares of Trane Technologies plc (NYSE:TT) by 15.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,515 shares of the company’s stock after acquiring an additional 4,844 shares during the quarter. Cibc World Markets Corp’s holdings in Trane Technologies were worth $13,117,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Twin Tree Management LP bought a new stake in shares of Trane Technologies during the 4th quarter valued at about $424,000. Signature Wealth Management Group increased its position in Trane Technologies by 5.0% in the 4th quarter. Signature Wealth Management Group now owns 4,390 shares of the company’s stock valued at $1,622,000 after buying an additional 208 shares in the last quarter. Harbour Investments Inc. raised its stake in Trane Technologies by 11.8% during the 4th quarter. Harbour Investments Inc. now owns 1,029 shares of the company’s stock worth $380,000 after buying an additional 109 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Trane Technologies by 10.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,371 shares of the company’s stock worth $4,939,000 after acquiring an additional 1,277 shares in the last quarter. Finally, one8zero8 LLC bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $369,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TT shares. Citigroup reduced their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Melius Research reiterated a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Royal Bank of Canada upped their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Barclays cut their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Finally, UBS Group lowered their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $413.69.

Insiders Place Their Bets

In other news, SVP Evan M. Turtz sold 318 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the sale, the senior vice president now directly owns 20,513 shares in the company, valued at $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Christopher J. Kuehn sold 876 shares of the business’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 transaction of $313,099.92. Following the transaction, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock worth $2,588,102 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Up 1.1 %

TT opened at $351.46 on Tuesday. The company’s 50-day moving average price is $364.02 and its two-hundred day moving average price is $380.16. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00. The stock has a market cap of $78.83 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 2.50 and a beta of 1.08.

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

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a $0.94 dividend. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a dividend yield of 1.07%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is 33.42%.

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.