Varma Mutual Pension Insurance Co Buys 3,600 Shares of Trane Technologies plc $TT

Varma Mutual Pension Insurance Co boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 9.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 43,811 shares of the company’s stock after purchasing an additional 3,600 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Trane Technologies were worth $18,486,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TT. Ethic Inc. grew its holdings in shares of Trane Technologies by 6.6% during the second quarter. Ethic Inc. now owns 26,836 shares of the company’s stock worth $11,601,000 after purchasing an additional 1,672 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Trane Technologies by 2.4% in the third quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock valued at $1,051,049,000 after buying an additional 57,774 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Trane Technologies during the 3rd quarter worth about $6,571,000. Boston Common Asset Management LLC bought a new stake in Trane Technologies during the 3rd quarter worth about $9,546,000. Finally, Compass Wealth Management LLC increased its position in Trane Technologies by 3,785.4% in the 3rd quarter. Compass Wealth Management LLC now owns 27,198 shares of the company’s stock valued at $11,476,000 after acquiring an additional 26,498 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TT shares. Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price on the stock in a research report on Wednesday, January 7th. Citigroup boosted their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Morgan Stanley decreased their price objective on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada upped their price target on Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $484.67.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 822 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.57, for a total value of $380,232.54. Following the sale, the insider directly owned 3,819 shares in the company, valued at $1,766,554.83. This trade represents a 17.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Christopher J. Kuehn sold 2,389 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the transaction, the chief financial officer owned 60,486 shares of the company’s stock, valued at approximately $27,986,872.20. This represents a 3.80% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 8,936 shares of company stock valued at $4,133,991. Insiders own 0.14% of the company’s stock.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $460.37 on Friday. The firm has a fifty day moving average of $402.63 and a two-hundred day moving average of $414.89. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. The stock has a market capitalization of $101.89 billion, a price-to-earnings ratio of 35.47, a PEG ratio of 2.49 and a beta of 1.21. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $479.37.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.05. The business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The firm’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the company earned $2.61 EPS. As a group, equities research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, March 6th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio is presently 28.97%.

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.