National Bank of Canada FI Acquires 112,731 Shares of Trane Technologies plc $TT

National Bank of Canada FI raised its holdings in Trane Technologies plc (NYSE:TT) by 60.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 298,600 shares of the company’s stock after purchasing an additional 112,731 shares during the period. National Bank of Canada FI’s holdings in Trane Technologies were worth $126,005,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Aptus Capital Advisors LLC raised its holdings in Trane Technologies by 169.8% in the 3rd quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock valued at $6,219,000 after acquiring an additional 9,276 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Trane Technologies during the 3rd quarter worth $6,571,000. Nordea Investment Management AB increased its position in shares of Trane Technologies by 2.4% in the third quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock worth $1,051,049,000 after purchasing an additional 57,774 shares during the period. Boston Common Asset Management LLC bought a new position in shares of Trane Technologies in the third quarter worth $9,546,000. Finally, Compass Wealth Management LLC raised its stake in Trane Technologies by 3,785.4% in the third quarter. Compass Wealth Management LLC now owns 27,198 shares of the company’s stock valued at $11,476,000 after purchasing an additional 26,498 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 2,389 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the sale, the chief financial officer directly owned 60,486 shares in the company, valued at $27,986,872.20. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Elizabeth A. Elwell sold 635 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $268,414.50. Following the sale, the chief accounting officer directly owned 7,100 shares in the company, valued at $3,001,170. The trade was a 8.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 49,378 shares of company stock worth $21,228,464 in the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the topic of several analyst reports. Citigroup increased their price target on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. UBS Group lowered their price objective on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Morgan Stanley reduced their target price on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. JPMorgan Chase & Co. lifted their price target on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Finally, Barclays boosted their price target on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $484.67.

Trane Technologies Stock Down 0.2%

Shares of TT opened at $421.48 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $479.37. The stock has a market capitalization of $93.29 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 2.22 and a beta of 1.19. The stock has a fifty day moving average of $426.89 and a 200-day moving average of $417.11.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. The business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.Trane Technologies’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.61 EPS. As a group, sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be paid a $1.05 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s payout ratio is currently 32.36%.

About Trane Technologies

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.