Caisse Des Depots ET Consignations Makes New $98.56 Million Investment in Trane Technologies plc (NYSE:TT)

Caisse Des Depots ET Consignations purchased a new stake in Trane Technologies plc (NYSE:TT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 266,846 shares of the company’s stock, valued at approximately $98,560,000. Trane Technologies accounts for about 4.8% of Caisse Des Depots ET Consignations’ holdings, making the stock its 4th largest position. Caisse Des Depots ET Consignations owned 0.12% of Trane Technologies as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the company. Global Wealth Strategies & Associates purchased a new position in shares of Trane Technologies in the 4th quarter worth about $26,000. Sound Income Strategies LLC lifted its stake in Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after purchasing an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new position in Trane Technologies during the fourth quarter worth about $37,000. Golden State Wealth Management LLC purchased a new stake in Trane Technologies in the fourth quarter valued at approximately $39,000. Finally, Legacy Investment Solutions LLC purchased a new position in Trane Technologies in the third quarter worth $44,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TT shares. Barclays cut their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Citigroup dropped their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research report on Tuesday, January 28th. UBS Group lowered their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Wells Fargo & Company dropped 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $413.69.

Trane Technologies Trading Down 3.2 %

TT stock opened at $352.29 on Thursday. The business has a fifty day simple moving average of $359.83 and a 200-day simple moving average of $380.06. The company has a market cap of $79.01 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 2.50 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 52 week low of $286.32 and a 52 week 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 the consensus estimate 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, equities research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.07%. Trane Technologies’s payout ratio is currently 33.42%.

Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, 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 trade represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 770 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the sale, the chief financial officer now owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders 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 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.