Forsta AP Fonden Has $36.79 Million Stock Holdings in Trane Technologies plc $TT

Forsta AP Fonden grew its holdings in Trane Technologies plc (NYSE:TT) by 12.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,100 shares of the company’s stock after acquiring an additional 9,400 shares during the quarter. Forsta AP Fonden’s holdings in Trane Technologies were worth $36,786,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in TT. Vanguard Group Inc. lifted its position in Trane Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company’s stock worth $6,555,377,000 after purchasing an additional 221,206 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Trane Technologies by 9.8% in the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock worth $5,297,235,000 after acquiring an additional 1,408,421 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Trane Technologies by 7.2% during the first quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company’s stock worth $1,208,044,000 after purchasing an additional 241,910 shares during the last quarter. Nuveen LLC bought a new stake in Trane Technologies during the 1st quarter worth about $877,468,000. Finally, Northern Trust Corp increased its holdings in shares of Trane Technologies by 0.7% in the first quarter. Northern Trust Corp now owns 2,584,819 shares of the company’s stock valued at $870,877,000 after purchasing an additional 17,292 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In related news, CAO Elizabeth A. Elwell sold 600 shares of the business’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $440.00, for a total value of $264,000.00. Following the completion of the transaction, the chief accounting officer owned 7,148 shares of the company’s stock, valued at $3,145,120. The trade was a 7.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David S. Regnery sold 22,497 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the sale, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is currently owned by company insiders.

Trane Technologies Trading Down 2.8%

Shares of Trane Technologies stock opened at $421.20 on Wednesday. The company has a market capitalization of $93.40 billion, a price-to-earnings ratio of 33.40, a P/E/G ratio of 2.66 and a beta of 1.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. The business has a fifty day simple moving average of $419.39 and a two-hundred day simple moving average of $424.42. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, October 30th. The company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.08. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same period in the prior year, the firm earned $3.37 EPS. The business’s revenue was up 5.5% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. Research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be paid a $0.94 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is 28.92%.

Analysts Set New Price Targets

A number of brokerages recently commented on TT. Morgan Stanley lifted their price objective on Trane Technologies from $445.00 to $520.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Citigroup upped their price objective on shares of Trane Technologies from $494.00 to $513.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $466.50.

Trane Technologies 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.