Cwm LLC Acquires 2,192 Shares of Trane Technologies plc (NYSE:TT)

Cwm LLC lifted its position in Trane Technologies plc (NYSE:TT) by 33.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,675 shares of the company’s stock after buying an additional 2,192 shares during the period. Cwm LLC’s holdings in Trane Technologies were worth $3,372,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TT. Vanguard Group Inc. lifted its stake in Trane Technologies by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock valued at $5,670,032,000 after purchasing an additional 174,251 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Trane Technologies by 0.5% in the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock valued at $5,221,599,000 after acquiring an additional 80,536 shares during the period. Mackenzie Financial Corp raised its holdings in Trane Technologies by 0.3% in the 2nd quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock valued at $357,043,000 after acquiring an additional 2,898 shares during the period. TD Asset Management Inc raised its holdings in Trane Technologies by 41.2% in the 1st quarter. TD Asset Management Inc now owns 1,060,632 shares of the company’s stock valued at $318,402,000 after acquiring an additional 309,738 shares during the period. Finally, Raymond James & Associates raised its holdings in Trane Technologies by 2.2% in the 2nd quarter. Raymond James & Associates now owns 1,044,405 shares of the company’s stock valued at $343,536,000 after acquiring an additional 22,023 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Morgan Stanley started coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target on the stock. Wells Fargo & Company raised their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Robert W. Baird lifted their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Barclays lifted their price objective on shares of Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $367.33.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $399.86 on Monday. The firm has a market cap of $90.51 billion, a PE ratio of 42.72, a price-to-earnings-growth ratio of 2.75 and a beta of 1.01. The firm’s fifty day moving average is $361.78 and its 200-day moving average is $336.21. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $400.29.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. Trane Technologies’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.68 earnings per share. Sell-side analysts predict that Trane Technologies plc will post 10.88 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.84%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the transaction, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

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.