Commerzbank Aktiengesellschaft FI Boosts Holdings in Trane Technologies plc (NYSE:TT)

Commerzbank Aktiengesellschaft FI lifted its stake in Trane Technologies plc (NYSE:TT) by 55.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,333 shares of the company’s stock after purchasing an additional 473 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Trane Technologies were worth $495,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TT. Swedbank AB lifted its position in shares of Trane Technologies by 2.8% in the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock worth $289,135,000 after purchasing an additional 20,400 shares during the period. Pittenger & Anderson Inc. bought a new position in shares of Trane Technologies in the 3rd quarter worth about $39,000. Catalina Capital Group LLC lifted its position in Trane Technologies by 10.9% during the 3rd quarter. Catalina Capital Group LLC now owns 895 shares of the company’s stock valued at $348,000 after acquiring an additional 88 shares during the period. Concurrent Investment Advisors LLC lifted its position in Trane Technologies by 7.9% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 9,114 shares of the company’s stock valued at $3,543,000 after acquiring an additional 668 shares during the period. Finally, Consilium Wealth Advisory LLC lifted its position in Trane Technologies by 296.2% during the 3rd quarter. Consilium Wealth Advisory LLC now owns 6,315 shares of the company’s stock valued at $2,455,000 after acquiring an additional 4,721 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Christopher J. Kuehn sold 770 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the transaction, the chief financial officer now owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. The trade was a 1.22 % 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 hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was 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 directly owns 132,969 shares in the company, 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 a total of 7,234 shares of company stock worth $2,588,102 over the last three months. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $348.78 on Thursday. The firm has a 50 day moving average of $369.25 and a 200 day moving average of $380.46. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $78.23 billion, a price-to-earnings ratio of 31.00, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 12-month low of $279.00 and a 12-month high of $422.00.

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

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $0.94 dividend. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio is presently 29.87%.

Analysts Set New Price Targets

TT has been the subject of a number of recent research reports. Northcoast Research initiated coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target for the company. Royal Bank of Canada lifted 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. Citigroup decreased their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. Finally, Wells Fargo & Company decreased their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $415.25.

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.