Skandinaviska Enskilda Banken AB publ Acquires 57,830 Shares of Trane Technologies plc (NYSE:TT)

Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Trane Technologies plc (NYSE:TT) by 58.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 157,053 shares of the company’s stock after acquiring an additional 57,830 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Trane Technologies were worth $58,245,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Vestcor Inc lifted its stake in Trane Technologies by 14.6% during the fourth quarter. Vestcor Inc now owns 8,846 shares of the company’s stock worth $3,267,000 after purchasing an additional 1,126 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Trane Technologies by 2,277.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,618 shares of the company’s stock valued at $12,786,000 after purchasing an additional 33,162 shares during the period. Avantax Advisory Services Inc. raised its holdings in shares of Trane Technologies by 1.8% in the 4th quarter. Avantax Advisory Services Inc. now owns 20,612 shares of the company’s stock worth $7,613,000 after buying an additional 373 shares in the last quarter. Essential Planning LLC. lifted its position in shares of Trane Technologies by 6,400.0% during the 4th quarter. Essential Planning LLC. now owns 47,970 shares of the company’s stock worth $19,037,000 after buying an additional 47,232 shares during the period. Finally, Jupiter Asset Management Ltd. boosted its stake in Trane Technologies by 6,673.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 64,346 shares of the company’s stock valued at $23,766,000 after buying an additional 63,396 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Up 1.7 %

NYSE TT opened at $339.72 on Thursday. 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 plc has a 52 week low of $285.62 and a 52 week high of $422.00. The stock has a market capitalization of $76.20 billion, a P/E ratio of 30.20, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The stock has a fifty day moving average of $366.02 and a 200-day moving average of $380.11.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, equities research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued 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 yield of 1.11%. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio is currently 33.42%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TT shares. Citigroup cut their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. UBS Group cut their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Wells Fargo & Company dropped their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Finally, Royal Bank of Canada boosted their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $413.69.

Insider Buying and Selling at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the sale, the chief financial officer now directly owns 62,221 shares in the company, valued at $22,299,384.19. This trade represents a 1.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is currently owned by insiders.

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.