Handelsbanken Fonder AB Cuts Stock Position in Trane Technologies plc $TT

Handelsbanken Fonder AB lessened its holdings in Trane Technologies plc (NYSE:TT) by 11.7% in the second quarter, Holdings Channel reports. The firm owned 115,268 shares of the company’s stock after selling 15,334 shares during the period. Handelsbanken Fonder AB’s holdings in Trane Technologies were worth $56,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Bell Investment Advisors Inc boosted its holdings in shares of Trane Technologies by 12.2% in the 1st quarter. Bell Investment Advisors Inc now owns 203 shares of the company’s stock worth $85,000 after buying an additional 22 shares during the last quarter. Fiduciary Family Office LLC increased its holdings in Trane Technologies by 1.5% during the fourth quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company’s stock worth $612,000 after buying an additional 23 shares during the last quarter. Foster Dykema Cabot & Partners LLC increased its holdings in Trane Technologies by 10.6% during the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company’s stock worth $93,000 after buying an additional 23 shares during the last quarter. Bridges Investment Management Inc. raised its position in Trane Technologies by 1.6% in the fourth quarter. Bridges Investment Management Inc. now owns 1,542 shares of the company’s stock worth $600,000 after acquiring an additional 24 shares during the period. Finally, Cornerstone Planning Group LLC raised its position in Trane Technologies by 14.5% in the first quarter. Cornerstone Planning Group LLC now owns 190 shares of the company’s stock worth $79,000 after acquiring an additional 24 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Down 1.1%

Trane Technologies stock opened at $476.81 on Tuesday. The firm has a 50 day simple moving average of $473.63 and a 200 day simple moving average of $456.80. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 0.45. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $505.87. The firm has a market capitalization of $104.91 billion, a price-to-earnings ratio of 36.12, a P/E/G ratio of 2.11 and a beta of 1.19.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, July 30th. The company reported $4.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.27 by $0.04. Trane Technologies had a return on equity of 35.72% and a net margin of 13.28%.The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter in the prior year, the business posted $3.88 earnings per share. The business’s quarterly revenue was up 10.6% on a year-over-year basis. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. On average, analysts predict that Trane Technologies plc will post 15.31 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio is 31.82%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 43,778 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $475.00, for a total value of $20,794,550.00. Following the completion of the transaction, the chief executive officer owned 96,950 shares in the company, valued at $46,051,250. This trade represents a 31.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

TT has been the subject of a number of research reports. BNP Paribas Exane began coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price for the company. Barclays lifted their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Citigroup dropped their price objective on Trane Technologies from $570.00 to $566.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. JPMorgan Chase & Co. increased their price objective on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, KeyCorp raised their target price on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $520.07.

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.