Commerzbank Aktiengesellschaft FI Takes Position in Trane Technologies plc (NYSE:TT)

Commerzbank Aktiengesellschaft FI bought a new position in Trane Technologies plc (NYSE:TT) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 860 shares of the company’s stock, valued at approximately $335,000.

Other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC grew its stake in shares of Trane Technologies by 138.0% in the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock valued at $2,001,000 after purchasing an additional 3,866 shares during the period. Nordea Investment Management AB grew its position in Trane Technologies by 3.0% in the first quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock valued at $135,796,000 after acquiring an additional 13,078 shares during the period. Sei Investments Co. raised its stake in Trane Technologies by 379.2% during the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock worth $91,909,000 after acquiring an additional 242,271 shares in the last quarter. Albar Capital Ltd acquired a new stake in shares of Trane Technologies in the 2nd quarter valued at $14,556,000. Finally, M&G Plc bought a new stake in shares of Trane Technologies in the 1st quarter worth about $8,939,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.8 %

Shares of NYSE TT opened at $392.57 on Friday. Trane Technologies plc has a 1 year low of $184.02 and a 1 year high of $406.96. The firm’s 50-day moving average is $372.79 and its 200-day moving average is $341.49. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $88.86 billion, a PE ratio of 41.94, a price-to-earnings-growth ratio of 2.75 and a beta of 1.01.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the firm earned $2.68 earnings per share. Equities analysts expect that Trane Technologies plc will post 10.88 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s payout ratio is 35.90%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. Stephens restated an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. Wells Fargo & Company lifted their price objective on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Robert W. Baird raised their target price on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group upped their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $373.58.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 29,450 shares of the company’s 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 sale, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO David S. Regnery sold 29,450 shares of the company’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 completion of the sale, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company 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.