Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 34,930 Shares of Trane Technologies plc $TT

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of Trane Technologies plc (NYSE:TT) by 54.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,153 shares of the company’s stock after buying an additional 34,930 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Trane Technologies were worth $41,321,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TT. Norges Bank bought a new position in shares of Trane Technologies during the 4th quarter worth approximately $1,163,124,000. Capital International Investors bought a new stake in Trane Technologies in the 4th quarter valued at $324,639,000. Corient Private Wealth LLC raised its stake in Trane Technologies by 135.4% in the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock valued at $321,757,000 after acquiring an additional 423,090 shares during the period. SG Americas Securities LLC lifted its holdings in Trane Technologies by 13,460.8% during the 4th quarter. SG Americas Securities LLC now owns 423,504 shares of the company’s stock valued at $164,828,000 after purchasing an additional 420,381 shares during the last quarter. Finally, Capital Research Global Investors bought a new position in Trane Technologies during the fourth quarter worth $132,124,000. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief financial officer owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the 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. The trade was a 54.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by company insiders.

Trane Technologies Trading Down 1.4%

Shares of Trane Technologies stock opened at $477.76 on Friday. 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 plc has a 12-month low of $348.06 and a 12-month high of $505.87. The company has a market capitalization of $105.61 billion, a price-to-earnings ratio of 36.95, a PEG ratio of 2.23 and a beta of 1.19. The firm’s 50-day moving average price is $470.69 and its two-hundred day moving average price is $440.67.

Trane Technologies (NYSE:TT) last issued its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.53 by $0.10. The company had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.45 EPS. On average, analysts forecast that Trane Technologies plc will post 14.9 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

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

Wall Street Analyst Weigh In

TT has been the topic of a number of research reports. Sanford C. Bernstein initiated coverage on shares of Trane Technologies in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $550.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. BNP Paribas Exane started coverage on Trane Technologies in a research note on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price on the stock. Citigroup lifted their price target on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, Barclays upped 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. Two 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $509.12.

Trane Technologies Company 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.