Bank of Montreal Can Sells 34,424 Shares of Trane Technologies plc (NYSE:TT)

Bank of Montreal Can decreased its position in Trane Technologies plc (NYSE:TT) by 8.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 359,068 shares of the company’s stock after selling 34,424 shares during the quarter. Bank of Montreal Can’s holdings in Trane Technologies were worth $132,622,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TT. Global Wealth Strategies & Associates bought a new position in Trane Technologies in the 4th quarter worth $26,000. Sound Income Strategies LLC grew its position in shares of Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after purchasing an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC bought a new position in shares of Trane Technologies in the fourth quarter worth about $37,000. Golden State Wealth Management LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth about $39,000. Finally, Legacy Investment Solutions LLC bought a new stake in Trane Technologies during the 3rd quarter valued at approximately $44,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Down 0.7 %

Shares of NYSE TT opened at $315.77 on Tuesday. The business has a fifty day moving average of $350.60 and a two-hundred day moving average of $378.54. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a 52-week low of $286.32 and a 52-week high of $422.00. The stock has a market cap of $70.82 billion, a PE ratio of 28.07, a PEG ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. As a group, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.19%. Trane Technologies’s dividend payout ratio (DPR) is presently 33.42%.

Insider Activity at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 770 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the transaction, the chief financial officer now owns 62,221 shares in the company, valued at $22,299,384.19. The trade was a 1.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the transaction, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock valued at $2,588,102 over the last ninety days. 0.38% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Melius Research reaffirmed a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Royal Bank of Canada upped their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. Wells Fargo & Company reduced their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $413.69.

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.