Andra AP fonden Buys 23,480 Shares of Trane Technologies plc $TT

Andra AP fonden increased its stake in shares of Trane Technologies plc (NYSE:TT) by 361.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 29,980 shares of the company’s stock after acquiring an additional 23,480 shares during the quarter. Andra AP fonden’s holdings in Trane Technologies were worth $12,494,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC grew its holdings in shares of Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after acquiring an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC grew its stake in Trane Technologies by 22.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock valued at $728,000 after purchasing an additional 305 shares during the period. Schnieders Capital Management LLC. bought a new stake in shares of Trane Technologies during the 2nd quarter worth $227,000. Nebula Research & Development LLC boosted its holdings in shares of Trane Technologies by 178.0% in the 2nd quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock worth $1,037,000 after buying an additional 1,518 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in Trane Technologies by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock worth $45,552,000 after buying an additional 497 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on TT shares. KeyCorp boosted their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Barclays increased their price objective on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Royal Bank Of Canada boosted 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. Finally, Citigroup lifted their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $516.67.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider owned 3,819 shares of the company’s stock, valued at $1,909,500. The trade was a 54.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Up 0.5%

TT opened at $470.42 on Wednesday. The firm has a market capitalization of $103.99 billion, a P/E ratio of 36.38, a price-to-earnings-growth ratio of 2.15 and a beta of 1.19. Trane Technologies plc has a one year low of $348.06 and a one year high of $505.87. The company has a fifty day moving average price of $469.78 and a 200-day moving average price of $448.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77.

Trane Technologies (NYSE:TT) last posted its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. During the same period in the previous year, the business earned $2.45 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. Equities research analysts expect that Trane Technologies plc will post 14.89 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, September 4th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s payout ratio is presently 32.48%.

Trane Technologies Profile

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.