Cumberland Partners Ltd Makes New Investment in Trane Technologies plc (NYSE:TT)

Cumberland Partners Ltd acquired a new position in Trane Technologies plc (NYSE:TT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,635 shares of the company’s stock, valued at approximately $393,000.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP boosted its position in Trane Technologies by 36.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after purchasing an additional 436,997 shares in the last quarter. Xponance Inc. lifted its position in shares of Trane Technologies by 18.6% during the 4th quarter. Xponance Inc. now owns 43,825 shares of the company’s stock valued at $10,689,000 after buying an additional 6,869 shares in the last quarter. CHICAGO TRUST Co NA lifted its position in shares of Trane Technologies by 2.1% during the 4th quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock valued at $765,000 after buying an additional 64 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Trane Technologies by 60.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock valued at $27,375,000 after buying an additional 42,409 shares in the last quarter. Finally, Wealth Effects LLC purchased a new position in shares of Trane Technologies during the 4th quarter valued at approximately $239,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of Trane Technologies stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $273.34, for a total value of $138,856.72. Following the completion of the transaction, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at approximately $24,449,442.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the transaction, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at $24,449,442.98. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Keith A. Sultana sold 1,637 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $267.74, for a total value of $438,290.38. Following the transaction, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at $11,345,214.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,874 shares of company stock worth $8,462,825. Company insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the topic of a number of recent analyst reports. Barclays increased their target price on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group increased their target price on Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. Stephens increased their target price on Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Royal Bank of Canada raised their price objective on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Finally, Citigroup raised their price objective on Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $251.83.

Trane Technologies Trading Up 0.2 %

Shares of NYSE TT traded up $0.67 during trading on Wednesday, hitting $295.76. 654,167 shares of the company were exchanged, compared to its average volume of 990,617. Trane Technologies plc has a 12-month low of $162.04 and a 12-month high of $306.98. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13. The company has a fifty day moving average price of $290.57 and a 200-day moving average price of $252.93. The firm has a market capitalization of $67.16 billion, a PE ratio of 33.56, a P/E/G ratio of 2.46 and a beta of 1.05.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the previous year, the firm earned $1.82 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts expect that Trane Technologies plc will post 10.2 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.84 dividend. The ex-dividend date is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.14%. Trane Technologies’s dividend payout ratio (DPR) is currently 38.23%.

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.