National Bank of Canada FI Has $168.04 Million Position in Trane Technologies plc (NYSE:TT)

National Bank of Canada FI boosted its position in Trane Technologies plc (NYSE:TT) by 53.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 454,949 shares of the company’s stock after purchasing an additional 157,590 shares during the quarter. National Bank of Canada FI’s holdings in Trane Technologies were worth $168,036,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of TT. Global Wealth Strategies & Associates bought a new stake in shares of Trane Technologies in the fourth quarter worth $26,000. Sound Income Strategies LLC grew its holdings in shares of Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after acquiring an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new position in Trane Technologies during the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC bought a new position in Trane Technologies in the fourth quarter valued at approximately $39,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Trane Technologies during the 3rd quarter worth approximately $44,000. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on TT. Melius Research reissued a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. Wells Fargo & Company lowered their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Barclays cut their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research report on Tuesday, January 28th. Finally, Citigroup reduced their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $413.69.

Insider Buying and Selling at Trane Technologies

In other news, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the sale, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Trading Up 1.6 %

Shares of NYSE:TT opened at $337.21 on Tuesday. The company has a market capitalization of $75.63 billion, a P/E ratio of 29.97, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The business’s 50 day simple moving average is $356.79 and its 200 day simple moving average is $379.99. Trane Technologies plc has a 1 year low of $286.32 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating 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%. On average, research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were paid a dividend of $0.94 per share. The ex-dividend date was Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.12%. Trane Technologies’s dividend payout ratio is presently 33.42%.

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.