Swiss National Bank Has $237.31 Million Holdings in Trane Technologies plc $TT

Swiss National Bank cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 5.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 609,743 shares of the company’s stock after selling 33,060 shares during the quarter. Swiss National Bank’s holdings in Trane Technologies were worth $237,312,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Aptus Capital Advisors LLC grew its holdings in shares of Trane Technologies by 169.8% during the third quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock worth $6,219,000 after buying an additional 9,276 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Trane Technologies by 2.9% during the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after buying an additional 72,998 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Trane Technologies by 64.0% during the fourth quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock worth $2,911,000 after buying an additional 2,917 shares in the last quarter. Varma Mutual Pension Insurance Co grew its holdings in shares of Trane Technologies by 9.0% during the third quarter. Varma Mutual Pension Insurance Co now owns 43,811 shares of the company’s stock worth $18,486,000 after buying an additional 3,600 shares in the last quarter. Finally, Korea Investment CORP grew its holdings in shares of Trane Technologies by 17.5% during the third quarter. Korea Investment CORP now owns 204,695 shares of the company’s stock worth $86,373,000 after buying an additional 30,558 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on TT. BNP Paribas Exane began coverage on Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective for the company. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Sanford C. Bernstein initiated coverage on Trane Technologies in a research note on Tuesday. They issued an “outperform” rating and a $550.00 price target for the company. Evercore initiated coverage on Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price target on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Trane Technologies has an average rating of “Moderate Buy” and an average price target of $509.12.

Trane Technologies Stock Performance

TT opened at $459.89 on Friday. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $503.47. The stock has a market cap of $101.66 billion, a price-to-earnings ratio of 35.57, a PEG ratio of 2.07 and a beta of 1.20. The business has a 50 day moving average of $462.86 and a 200-day moving average of $432.97. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. During the same period last year, the firm posted $2.45 earnings per share. The business’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts expect that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s dividend payout ratio (DPR) is presently 32.48%.

Insider Buying and Selling

In other news, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the sale, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the sale, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

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.