34,921 Shares in Trane Technologies plc (NYSE:TT) Acquired by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. has acquired **34,921 shares** of Trane Technologies plc, valued at approximately **$11.77 million**.
• Analysts have mixed ratings for Trane Technologies, with Barclays raising the price target to **$495**, while Northcoast Research lowered it to a **neutral** rating.
• Trane Technologies announced a **quarterly dividend** of **$0.94**, representing a **0.9% yield**, set to be paid on September 30th.

iA Global Asset Management Inc. purchased a new stake in shares of Trane Technologies plc (NYSE:TT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 34,921 shares of the company's stock, valued at approximately $11,766,000.

A number of other hedge funds also recently modified their holdings of TT. Brighton Jones LLC increased its stake in Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock worth $2,288,000 after acquiring an additional 2,323 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Trane Technologies by 8.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 298,261 shares of the company's stock worth $110,163,000 after purchasing an additional 24,157 shares during the period. Quadrant Capital Group LLC lifted its position in Trane Technologies by 0.8% during the fourth quarter. Quadrant Capital Group LLC now owns 3,786 shares of the company's stock worth $1,398,000 after purchasing an additional 30 shares during the period. Shelton Capital Management increased its holdings in Trane Technologies by 31.1% in the 4th quarter. Shelton Capital Management now owns 35,003 shares of the company's stock valued at $12,928,000 after buying an additional 8,305 shares during the period. Finally, Bank of Nova Scotia raised its position in shares of Trane Technologies by 18.9% in the 4th quarter. Bank of Nova Scotia now owns 147,386 shares of the company's stock valued at $54,437,000 after buying an additional 23,416 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Stock Up 0.3%

Trane Technologies stock traded up $1.15 during midday trading on Thursday, reaching $428.18. The stock had a trading volume of 790,605 shares, compared to its average volume of 1,358,816. The company has a fifty day moving average price of $435.42 and a two-hundred day moving average price of $389.74. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $95.28 billion, a P/E ratio of 33.96, a PEG ratio of 2.66 and a beta of 1.09.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating analysts' consensus estimates of $3.79 by $0.09. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm's revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $3.30 earnings per share. As a group, equities analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is 29.82%.

Wall Street Analyst Weigh In

TT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Royal Bank Of Canada increased their target price on shares of Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Citigroup increased their price objective on shares of Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Robert W. Baird upped their price target on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $458.60.

Trane Technologies Company 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.