Swedbank AB Boosts Stock Holdings in Trane Technologies plc (NYSE:TT)

Swedbank AB increased its stake in Trane Technologies plc (NYSE:TT) by 5.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 723,394 shares of the company’s stock after acquiring an additional 36,482 shares during the quarter. Swedbank AB’s holdings in Trane Technologies were worth $237,946,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GoalVest Advisory LLC increased its holdings in Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Trane Technologies in the 1st quarter worth $27,000. BOK Financial Private Wealth Inc. purchased a new stake in Trane Technologies in the 1st quarter worth $30,000. Sachetta LLC purchased a new stake in Trane Technologies in the 4th quarter worth $27,000. Finally, Motco purchased a new stake in Trane Technologies in the 4th quarter worth $27,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TT. Mizuho upped their target price on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Citigroup upped their target price on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. TD Cowen upped their target price on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Barclays upped their target price on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $323.29.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the sale, the senior vice president now owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The disclosure for this sale can be found here. Insiders have sold 44,243 shares of company stock valued at $14,216,550 over the last 90 days. 0.38% of the stock is owned by insiders.

Trane Technologies Trading Down 1.9 %

Shares of TT stock traded down $6.55 on Friday, hitting $341.30. 963,268 shares of the stock traded hands, compared to its average volume of 1,132,039. The firm’s 50-day moving average price is $332.94 and its two-hundred day moving average price is $310.69. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.74 and a current ratio of 1.17. The stock has a market capitalization of $77.25 billion, a PE ratio of 37.16, a PEG ratio of 2.50 and a beta of 1.01. Trane Technologies plc has a twelve month low of $184.02 and a twelve month high of $351.41.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter in the prior year, the company posted $2.68 earnings per share. Trane Technologies’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, analysts anticipate that Trane Technologies plc will post 10.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a $0.84 dividend. The ex-dividend date is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.98%. Trane Technologies’s payout ratio is currently 35.90%.

About Trane Technologies

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.