Connor Clark & Lunn Investment Management Ltd. Has $12.79 Million Stock Position in Trane Technologies plc (NYSE:TT)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Trane Technologies plc (NYSE:TT) by 2,277.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,618 shares of the company’s stock after purchasing an additional 33,162 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Trane Technologies were worth $12,786,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TT. Raymond James Financial Inc. acquired a new stake in Trane Technologies during the fourth quarter valued at $611,322,000. Massachusetts Financial Services Co. MA boosted its position in Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after purchasing an additional 671,691 shares during the last quarter. FMR LLC lifted its position in shares of Trane Technologies by 4.0% in the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after buying an additional 397,537 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Trane Technologies by 455.2% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock worth $167,977,000 after buying an additional 350,277 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Trane Technologies by 42.9% in the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after buying an additional 293,916 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target for the company. in a research report on Tuesday, January 28th. Royal Bank of Canada boosted their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Northcoast Research assumed coverage on Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target for the company. Barclays reduced their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Finally, UBS Group reduced their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $413.69.

Insider Activity

In related news, SVP Mairead Magner sold 198 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the sale, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. This represents a 1.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. This trade 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 have sold 7,234 shares of company stock worth $2,588,102. Company insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 2.8 %

Shares of TT opened at $348.48 on Friday. Trane Technologies plc has a 12-month low of $286.32 and a 12-month 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 firm has a market capitalization of $78.16 billion, a price-to-earnings ratio of 30.98, a P/E/G ratio of 2.50 and a beta of 1.08. The stock’s 50-day moving average price is $364.65 and its 200 day moving average price is $379.80.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results 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 return on equity of 35.37% and a net margin of 12.94%. As a group, research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $0.94 dividend. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio is currently 33.42%.

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.