Canada Pension Plan Investment Board Buys 31,600 Shares of Trane Technologies plc (NYSE:TT)

Canada Pension Plan Investment Board raised its stake in Trane Technologies plc (NYSE:TT) by 15.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 237,648 shares of the company’s stock after acquiring an additional 31,600 shares during the period. Canada Pension Plan Investment Board owned about 0.11% of Trane Technologies worth $87,775,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Global Wealth Strategies & Associates acquired a new stake in shares of Trane Technologies during the 4th quarter worth about $26,000. Sound Income Strategies LLC boosted its position in Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC bought a new stake in Trane Technologies during the fourth quarter worth about $37,000. Golden State Wealth Management LLC acquired a new stake in shares of Trane Technologies during the fourth quarter worth approximately $39,000. Finally, BankPlus Trust Department acquired a new position in shares of Trane Technologies in the 4th quarter worth approximately $45,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TT has been the subject of a number of recent analyst reports. Melius Research reaffirmed a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. UBS Group lowered their target price 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. JPMorgan Chase & Co. decreased their price objective on shares of Trane Technologies from $396.00 to $323.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Citigroup dropped their target price on shares of Trane Technologies from $476.00 to $415.00 and set a “buy” rating for the company in a research note on Monday. Finally, Royal Bank of Canada increased their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. One research 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $405.31.

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 transaction of $313,099.92. Following the sale, the chief financial officer now directly owns 63,841 shares in the company, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock valued at $2,588,102 in the last quarter. Company insiders own 0.38% of the company’s stock.

Trane Technologies Stock Up 0.8 %

NYSE:TT opened at $333.33 on Friday. 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 12-month low of $286.32 and a 12-month high of $422.00. The stock’s fifty day simple moving average is $345.60 and its 200-day simple moving average is $375.21. The firm has a market capitalization of $74.76 billion, a P/E ratio of 29.63, a P/E/G ratio of 2.50 and a beta of 1.08.

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

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.13%. Trane Technologies’s dividend payout ratio is 33.42%.

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.