Cumberland Partners Ltd Invests $2.28 Million in Trane Technologies plc (NYSE:TT)

Cumberland Partners Ltd bought a new stake in Trane Technologies plc (NYSE:TT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,175 shares of the company’s stock, valued at approximately $2,281,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of Trane Technologies during the 3rd quarter worth approximately $27,000. Global Wealth Strategies & Associates purchased a new position in shares of Trane Technologies in the 4th quarter valued at $26,000. DT Investment Partners LLC acquired a new stake in Trane Technologies during the 3rd quarter worth $36,000. Sound Income Strategies LLC lifted its position in 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 acquiring an additional 92 shares during the last quarter. Finally, Pittenger & Anderson Inc. acquired a new position in Trane Technologies in the third quarter valued at $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a research report on Tuesday, January 28th. Citigroup cut their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. increased their price objective on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. UBS Group cut their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Melius Research reiterated 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 given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $415.25.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 770 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $22,299,384.19. This trade represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,563 shares of company stock valued at $4,388,966 over the last three months. 0.38% of the stock is currently owned by insiders.

Trane Technologies Trading Up 2.0 %

NYSE:TT opened at $370.04 on Thursday. Trane Technologies plc has a 52-week low of $270.50 and a 52-week high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $376.38 and a 200-day simple moving average of $379.24. The company has a market capitalization of $83.00 billion, a PE ratio of 32.89, a price-to-earnings-growth ratio of 2.48 and a beta of 1.05.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 expect 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. Shareholders of record on Friday, March 7th will be given a dividend of $0.94 per share. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a yield of 1.02%. Trane Technologies’s dividend payout ratio (DPR) is presently 29.87%.

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.