CIBC Asset Management Inc Increases Stock Position in Trane Technologies plc $TT

CIBC Asset Management Inc increased its holdings in Trane Technologies plc (NYSE:TT) by 64.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,376 shares of the company’s stock after buying an additional 21,366 shares during the period. CIBC Asset Management Inc’s holdings in Trane Technologies were worth $21,163,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Tucker Asset Management LLC purchased a new stake in shares of Trane Technologies during the fourth quarter worth $25,000. JPL Wealth Management LLC purchased a new position in shares of Trane Technologies in the third quarter valued at $32,000. Creative Financial Designs Inc. ADV raised its stake in shares of Trane Technologies by 119.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock valued at $35,000 after purchasing an additional 49 shares during the period. KERR FINANCIAL PLANNING Corp purchased a new stake in Trane Technologies during the 3rd quarter worth about $42,000. Finally, Hantz Financial Services Inc. grew its holdings in Trane Technologies by 58.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock valued at $45,000 after buying an additional 39 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TT shares. Evercore assumed coverage on shares of Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price target on the stock. BNP Paribas Exane began coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Barclays lifted their price objective on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, Citigroup raised their price target on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $506.56.

Insiders Place Their Bets

In other news, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the transaction, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the sale, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Down 0.3%

TT opened at $464.23 on Friday. The business’s fifty day simple moving average is $458.41 and its 200 day simple moving average is $431.16. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $503.47. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The stock has a market cap of $102.62 billion, a PE ratio of 35.90, a P/E/G ratio of 2.15 and a beta of 1.20.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.45 EPS. As a group, research analysts expect that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies’s payout ratio is presently 32.48%.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.