Lansforsakringar Fondforvaltning AB publ lifted its holdings in Trane Technologies plc (NYSE:TT – Free Report) by 1.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 129,368 shares of the company’s stock after acquiring an additional 1,744 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Trane Technologies were worth $53,913,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Tucker Asset Management LLC purchased a new position in Trane Technologies in the 4th quarter worth $25,000. Hilton Head Capital Partners LLC purchased a new stake in Trane Technologies during the fourth quarter valued at about $32,000. JPL Wealth Management LLC bought a new position in shares of Trane Technologies during the third quarter valued at about $32,000. Kemnay Advisory Services Inc. purchased a new position in shares of Trane Technologies in the fourth quarter worth about $34,000. Finally, Creative Financial Designs Inc. ADV increased its holdings in shares of Trane Technologies by 119.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock worth $35,000 after buying an additional 49 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.
Analysts Set New Price Targets
TT has been the subject of several analyst reports. KeyCorp increased their target price on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Barclays boosted their price objective on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” 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 issued an “outperform” rating and a $535.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Royal Bank Of Canada increased their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Trane Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $509.12.
Trane Technologies Trading Up 0.3%
TT opened at $479.41 on Tuesday. Trane Technologies plc has a one year low of $348.06 and a one 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 business has a 50 day simple moving average of $470.26 and a two-hundred day simple moving average of $438.84. The firm has a market capitalization of $105.97 billion, a price-to-earnings ratio of 37.08, a PEG ratio of 2.20 and a beta of 1.20.
Trane Technologies (NYSE:TT – Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $2.45 EPS. Analysts predict that Trane Technologies plc will post 14.88 EPS for the current year.
Trane Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s payout ratio is presently 32.48%.
Insiders Place Their Bets
In other news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction dated 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 approximately $1,909,500. This trade represents a 54.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the transaction, the chief financial officer owned 60,576 shares in the company, valued at $27,259,200. This represents a 12.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.
About Trane Technologies
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.
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