iA Global Asset Management Inc. Has $2.78 Million Stock Position in Trane Technologies plc (NYSE:TT)

iA Global Asset Management Inc. cut its holdings in Trane Technologies plc (NYSE:TT) by 95.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,160 shares of the company’s stock after selling 156,516 shares during the quarter. iA Global Asset Management Inc.’s holdings in Trane Technologies were worth $2,783,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new position in shares of Trane Technologies in the third quarter valued at approximately $27,000. DT Investment Partners LLC acquired a new position in Trane Technologies during the 3rd quarter worth about $36,000. Triad Wealth Partners LLC bought a new stake in shares of Trane Technologies in the 2nd quarter valued at about $39,000. Quarry LP acquired a new stake in shares of Trane Technologies in the second quarter valued at about $39,000. Finally, Pittenger & Anderson Inc. acquired a new stake in Trane Technologies during the 3rd quarter valued at approximately $39,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Down 0.7 %

Shares of NYSE:TT opened at $412.18 on Monday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average is $400.85 and its 200 day moving average is $362.45. Trane Technologies plc has a 12-month low of $229.07 and a 12-month high of $422.00. The stock has a market cap of $92.75 billion, a price-to-earnings ratio of 38.24, a PEG ratio of 2.53 and a beta of 1.03.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the company posted $2.79 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, sell-side analysts forecast that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.82%. Trane Technologies’s payout ratio is presently 31.17%.

Wall Street Analysts Forecast Growth

TT has been the subject of several recent analyst reports. The Goldman Sachs Group increased their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. UBS Group assumed coverage on Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price target on the stock. Barclays lifted their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company raised their target price on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Finally, Northcoast Research initiated coverage on Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $401.93.

Insider Activity

In related news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is currently owned by corporate insiders.

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.