Caisse Des Depots ET Consignations Makes New $98.56 Million Investment in Trane Technologies plc (NYSE:TT)

Caisse Des Depots ET Consignations purchased a new stake in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 266,846 shares of the company’s stock, valued at approximately $98,560,000. Trane Technologies makes up 4.8% of Caisse Des Depots ET Consignations’ investment portfolio, making the stock its 4th largest holding.

Other large investors have also made changes to their positions in the company. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in Trane Technologies by 86.2% in the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 3,936 shares of the company’s stock valued at $1,454,000 after acquiring an additional 1,822 shares in the last quarter. Howe & Rusling Inc. boosted its position in Trane Technologies by 3.4% during the fourth quarter. Howe & Rusling Inc. now owns 1,217 shares of the company’s stock worth $449,000 after purchasing an additional 40 shares during the period. NEOS Investment Management LLC lifted its holdings in Trane Technologies by 28.6% during the 4th quarter. NEOS Investment Management LLC now owns 11,150 shares of the company’s stock worth $4,118,000 after purchasing an additional 2,483 shares during the last quarter. WINTON GROUP Ltd grew its stake in shares of Trane Technologies by 203.0% in the fourth quarter. WINTON GROUP Ltd now owns 14,572 shares of the company’s stock valued at $5,382,000 after acquiring an additional 9,762 shares in the last quarter. Finally, Artisan Partners Limited Partnership acquired a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $67,639,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

TT opened at $352.29 on Thursday. Trane Technologies plc has a 12-month low of $286.32 and a 12-month high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $79.01 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 2.50 and a beta of 1.08. The business’s fifty day simple moving average is $359.83 and its 200-day simple moving average is $380.06.

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

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.07%. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TT shares. Wells Fargo & Company cut their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. UBS Group reduced their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Citigroup reduced their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Melius Research restated a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $413.69.

Insider Activity at Trane Technologies

In other news, 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 owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the transaction, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is owned by 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.