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

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

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global Wealth Strategies & Associates purchased a new position in Trane Technologies in the fourth quarter valued at about $26,000. MidAtlantic Capital Management Inc. purchased a new position in Trane Technologies in the third quarter valued at about $27,000. Sound Income Strategies LLC boosted its stake in Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after acquiring an additional 92 shares during the last quarter. Pittenger & Anderson Inc. purchased a new position in Trane Technologies in the third quarter valued at about $39,000. Finally, Golden State Wealth Management LLC purchased a new position in Trane Technologies in the fourth quarter valued at about $39,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TT shares. UBS Group dropped their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada boosted their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Wells Fargo & Company lowered their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Finally, Northcoast Research started coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target on the stock. One 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $415.25.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $348.78 on Thursday. The company’s fifty day moving average price is $369.25 and its 200-day moving average price is $380.46. The firm has a market capitalization of $78.23 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a one year low of $279.00 and a one year high of $422.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT) last issued 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 net margin of 12.94% and a return on equity of 35.37%. On average, equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal 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 paid a $0.94 dividend. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. Trane Technologies’s dividend payout ratio is 29.87%.

Insider Activity

In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the sale, the senior vice president now owns 20,513 shares of the company’s stock, valued at $7,346,115.56. This represents a 1.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at $4,792,331.61. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,234 shares of company stock valued at $2,588,102. Corporate insiders own 0.38% of the company’s stock.

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.