Trane Technologies plc $TT Holdings Raised by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ boosted its holdings in shares of Trane Technologies plc (NYSE:TT) by 1.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 127,910 shares of the company’s stock after buying an additional 1,257 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Trane Technologies were worth $53,973,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. King Luther Capital Management Corp lifted its position in shares of Trane Technologies by 1.3% in the second quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock worth $849,000 after buying an additional 24 shares during the last quarter. Old Port Advisors lifted its position in Trane Technologies by 3.2% in the third quarter. Old Port Advisors now owns 778 shares of the company’s stock worth $328,000 after purchasing an additional 24 shares during the period. OneAscent Wealth Management LLC raised its position in Trane Technologies by 1.5% in the third quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock worth $686,000 after purchasing an additional 24 shares in the last quarter. Bridgewater Advisors Inc. lifted its position in shares of Trane Technologies by 3.7% during the 3rd quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock worth $285,000 after buying an additional 24 shares during the period. Finally, Busey Bank boosted its stake in shares of Trane Technologies by 3.0% in the 3rd quarter. Busey Bank now owns 871 shares of the company’s stock valued at $368,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TT shares. JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $490.00 to $550.00 in a research note on Thursday, November 13th. Morgan Stanley reduced their target price on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Oppenheimer upped their price target on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Finally, Melius Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price on the stock in a research report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $484.67.

Insider Activity at Trane Technologies

In related news, CAO Elizabeth A. Elwell sold 137 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $462.48, for a total transaction of $63,359.76. Following the sale, the chief accounting officer owned 7,100 shares of the company’s stock, valued at $3,283,608. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Donald E. Simmons sold 822 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.57, for a total value of $380,232.54. Following the completion of the transaction, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,766,554.83. The trade was a 17.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,936 shares of company stock valued at $4,133,991 over the last three months. 0.14% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Up 0.7%

Shares of TT opened at $466.84 on Friday. The stock has a market capitalization of $103.32 billion, a PE ratio of 35.97, a P/E/G ratio of 2.46 and a beta of 1.21. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $479.37. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average is $410.60 and its 200-day moving average is $415.51.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating the consensus estimate of $2.81 by $0.05. The company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.61 EPS. Equities research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s payout ratio is currently 28.97%.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.