iA Global Asset Management Inc. Acquires 2,090 Shares of Trane Technologies plc (NYSE:TT)

iA Global Asset Management Inc. increased its holdings in shares of Trane Technologies plc (NYSE:TT) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,676 shares of the company’s stock after purchasing an additional 2,090 shares during the period. iA Global Asset Management Inc. owned approximately 0.07% of Trane Technologies worth $53,838,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in shares of Trane Technologies during the fourth quarter worth $655,804,000. Swedbank AB acquired a new stake in shares of Trane Technologies in the 1st quarter valued at about $206,211,000. TD Asset Management Inc lifted its holdings in shares of Trane Technologies by 719.8% in the fourth quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock valued at $183,143,000 after purchasing an additional 659,299 shares in the last quarter. Putnam Investments LLC grew its holdings in shares of Trane Technologies by 27,824.4% during the fourth quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock worth $139,689,000 after buying an additional 570,679 shares in the last quarter. Finally, Kodai Capital Management LP acquired a new stake in Trane Technologies in the 4th quarter valued at approximately $77,615,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Price Performance

Shares of NYSE:TT traded up $6.64 during midday trading on Friday, hitting $361.66. The stock had a trading volume of 1,793,020 shares, compared to its average volume of 1,118,986. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $81.86 billion, a P/E ratio of 38.64, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The company’s 50-day moving average price is $336.45 and its 200-day moving average price is $316.45. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $362.43.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the prior year, the company earned $2.68 EPS. Trane Technologies’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, equities research analysts predict that Trane Technologies plc will post 10.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio is 35.90%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TT shares. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. UBS Group lifted their target price on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Stephens restated an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Finally, Wells Fargo & Company upped their price objective on Trane Technologies from $310.00 to $315.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $323.29.

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO David S. Regnery sold 29,450 shares of the firm’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 of the company’s stock, valued at $42,708,902.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the sale, the chief financial officer now directly owns 61,293 shares in the company, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. Insiders sold a total of 44,243 shares of company stock valued at $14,216,550 in the last quarter. Insiders own 0.38% of the company’s stock.

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.