Canada Pension Plan Investment Board Boosts Stake in Trane Technologies plc (NYSE:TT)

Canada Pension Plan Investment Board boosted its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 15.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 237,648 shares of the company's stock after buying an additional 31,600 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.11% of Trane Technologies worth $87,775,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TT. Global Wealth Strategies & Associates acquired a new stake in shares of Trane Technologies during the fourth quarter worth $26,000. Sound Income Strategies LLC grew its holdings in shares of Trane Technologies by 1,314.3% during 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 acquired a new stake in shares of Trane Technologies during the 4th quarter worth approximately $37,000. Golden State Wealth Management LLC bought a new stake in shares of Trane Technologies during the 4th quarter worth $39,000. Finally, BankPlus Trust Department acquired a new position in Trane Technologies during the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Transactions at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the transaction, the chief financial officer now directly owns 63,841 shares in the company, valued at approximately $22,818,050.22. The trade was a 1.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the firm's stock in a transaction on 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 $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock worth $2,588,102 in the last quarter. Insiders own 0.38% of the company's stock.

Trane Technologies Stock Up 1.9 %

Shares of TT traded up $6.28 during trading hours on Wednesday, reaching $338.90. 717,417 shares of the stock traded hands, compared to its average volume of 1,302,449. Trane Technologies plc has a 52 week low of $291.37 and a 52 week high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $343.62 and a 200 day simple moving average of $373.91. The company has a market cap of $76.01 billion, a price-to-earnings ratio of 30.12, a PEG ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT - Get Free Report) last issued 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, equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's payout ratio is 33.42%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Barclays lowered their price target on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Citigroup dropped their price target on shares of Trane Technologies from $476.00 to $415.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Melius Research reiterated a "hold" rating and issued a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Wells Fargo & Company lowered their price objective on Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Trane Technologies from $396.00 to $323.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $405.31.

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.