Fjarde AP Fonden Fourth Swedish National Pension Fund Has $16.86 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 2.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 45,649 shares of the company’s stock after selling 1,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Trane Technologies were worth $16,860,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Wealth Strategies & Associates acquired a new stake in Trane Technologies in the fourth quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. bought a new position in shares of Trane Technologies in the 3rd quarter worth $27,000. Sound Income Strategies LLC grew its position in Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after purchasing an additional 92 shares during the period. Pittenger & Anderson Inc. bought a new stake in Trane Technologies during the 3rd quarter valued at $39,000. Finally, Golden State Wealth Management LLC acquired a new position in Trane Technologies during the fourth quarter worth $39,000. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TT has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Wells Fargo & Company cut their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Barclays increased their price objective on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Robert W. Baird cut their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target for the company. in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average price target of $415.25.

Insiders Place Their Bets

In other news, SVP Evan M. Turtz sold 318 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the sale, the senior vice president now directly owns 20,513 shares in the company, valued at $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the sale, the chief financial officer now directly owns 63,841 shares in the company, valued at approximately $22,818,050.22. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,563 shares of company stock worth $4,388,966 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Trading Down 3.3 %

Shares of TT opened at $354.56 on Monday. Trane Technologies plc has a fifty-two week low of $279.00 and a fifty-two week high of $422.00. The business has a 50-day moving average of $374.82 and a 200 day moving average of $380.23. The firm has a market cap of $79.52 billion, a P/E ratio of 31.52, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share 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%. As a group, research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.06%. Trane Technologies’s payout ratio 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.