113,247 Shares in Trane Technologies plc $TT Acquired by SEB Asset Management AB

SEB Asset Management AB acquired a new position in Trane Technologies plc (NYSE:TT) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 113,247 shares of the company’s stock, valued at approximately $47,195,000. SEB Asset Management AB owned approximately 0.05% of Trane Technologies as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Trane Technologies by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock worth $7,791,909,000 after acquiring an additional 192,270 shares during the last quarter. State Street Corp boosted its position in shares of Trane Technologies by 0.6% during the 4th quarter. State Street Corp now owns 10,113,123 shares of the company’s stock valued at $3,936,034,000 after acquiring an additional 61,393 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Trane Technologies by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock worth $1,964,896,000 after purchasing an additional 14,179 shares in the last quarter. Norges Bank bought a new position in shares of Trane Technologies in the fourth quarter worth approximately $1,163,124,000. Finally, Nordea Investment Management AB raised its stake in Trane Technologies by 2.9% in the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock valued at $1,010,419,000 after purchasing an additional 72,998 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on TT. KeyCorp boosted their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Royal Bank Of Canada raised their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Evercore assumed coverage on shares of Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 price objective for the company. Barclays upped their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. raised their price target on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $516.67.

Trane Technologies Stock Down 1.1%

Shares of TT opened at $469.59 on Friday. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $505.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The stock has a 50 day simple moving average of $469.88 and a two-hundred day simple moving average of $446.98. The firm has a market cap of $103.80 billion, a P/E ratio of 36.32, a P/E/G ratio of 2.16 and a beta of 1.19.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.53 by $0.10. The firm had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $2.45 earnings per share. On average, analysts forecast that Trane Technologies plc will post 14.89 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio (DPR) is presently 32.48%.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the sale, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.

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.