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

National Bank of Canada FI grew its holdings in Trane Technologies plc (NYSE:TT) by 53.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 454,949 shares of the company’s stock after buying an additional 157,590 shares during the quarter. National Bank of Canada FI owned 0.20% of Trane Technologies worth $168,036,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Townsquare Capital LLC boosted its holdings in Trane Technologies by 55.6% during the third quarter. Townsquare Capital LLC now owns 3,362 shares of the company’s stock valued at $1,307,000 after purchasing an additional 1,201 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in Trane Technologies by 14.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 9,772 shares of the company’s stock valued at $3,799,000 after buying an additional 1,200 shares in the last quarter. Captrust Financial Advisors boosted its stake in Trane Technologies by 13.4% in the 3rd quarter. Captrust Financial Advisors now owns 15,221 shares of the company’s stock valued at $5,917,000 after buying an additional 1,804 shares in the last quarter. PDT Partners LLC acquired a new position in Trane Technologies during the third quarter worth $972,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in Trane Technologies by 35.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 86,464 shares of the company’s stock worth $33,611,000 after acquiring an additional 22,576 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Trane Technologies Price Performance

Shares of TT stock opened at $337.21 on Tuesday. The firm’s 50 day moving average price is $356.79 and its two-hundred day moving average price is $379.99. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a 52-week low of $286.32 and a 52-week high of $422.00. The stock has a market cap of $75.63 billion, a PE ratio of 29.97, a PEG ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data 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, analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

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

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the transaction, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 770 shares of the firm’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 directly owns 62,221 shares in the company, valued at approximately $22,299,384.19. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Melius Research reaffirmed a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Citigroup reduced their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. UBS Group dropped their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Barclays reduced their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $413.69.

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.