6,175 Shares in Trane Technologies plc (NYSE:TT) Bought by Cumberland Partners Ltd

Cumberland Partners Ltd acquired a new position in shares of Trane Technologies plc (NYSE:TT) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,175 shares of the company’s stock, valued at approximately $2,281,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Global Wealth Strategies & Associates purchased a new position in Trane Technologies in the 4th quarter valued at about $26,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Trane Technologies in the third quarter valued at approximately $27,000. DT Investment Partners LLC purchased a new position in shares of Trane Technologies in the third quarter valued at approximately $36,000. Sound Income Strategies LLC boosted its stake in shares of Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after acquiring an additional 92 shares during the last quarter. Finally, Pittenger & Anderson Inc. acquired a new position in Trane Technologies in the 3rd quarter valued at $39,000. 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 876 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the sale, the chief financial officer now owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 2,318 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.17, for a total value of $830,238.06. Following the completion of the sale, the chief executive officer now owns 126,831 shares in the company, valued at approximately $45,427,059.27. The trade was a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock worth $4,388,966 over the last three months. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TT shares. Northcoast Research began coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 target price on the stock. Robert W. Baird dropped their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company decreased their target price 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. JPMorgan Chase & Co. upped their price target on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, Royal Bank of Canada lifted their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $415.25.

Trane Technologies Stock Performance

Shares of TT stock opened at $370.04 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The firm has a market cap of $83.00 billion, a P/E ratio of 32.89, a P/E/G ratio of 2.48 and a beta of 1.05. The firm’s 50 day moving average price is $376.38 and its 200-day moving average price is $379.24. Trane Technologies plc has a one year low of $270.50 and a one year high of $422.00.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 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%. As a group, equities research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently announced 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 an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.02%. The ex-dividend date is Friday, March 7th. Trane Technologies’s payout ratio is currently 29.87%.

About Trane Technologies

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.