Handelsbanken Fonder AB Cuts Holdings in Trane Technologies plc $TT

Handelsbanken Fonder AB lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 10.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 139,231 shares of the company’s stock after selling 16,006 shares during the period. Handelsbanken Fonder AB owned 0.06% of Trane Technologies worth $58,750,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in TT. Vanguard Group Inc. lifted its stake in shares of Trane Technologies by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 19,792,410 shares of the company’s stock worth $8,657,398,000 after purchasing an additional 335,634 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Trane Technologies by 10.2% in the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock worth $6,550,975,000 after purchasing an additional 1,433,563 shares in the last quarter. State Street Corp lifted its position in shares of Trane Technologies by 0.3% during the second quarter. State Street Corp now owns 10,077,267 shares of the company’s stock valued at $4,407,904,000 after buying an additional 31,826 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Trane Technologies by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,973,217 shares of the company’s stock valued at $2,164,764,000 after buying an additional 56,293 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Trane Technologies in the 2nd quarter worth approximately $1,356,065,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 5,588 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.60, for a total transaction of $2,585,008.80. Following the sale, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at approximately $44,848,144.80. This trade represents a 5.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Elizabeth A. Elwell sold 137 shares of Trane Technologies stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.48, for a total value of $63,359.76. Following the transaction, the chief accounting officer owned 7,100 shares of the company’s stock, valued at $3,283,608. The trade was a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,936 shares of company stock worth $4,133,991 over the last ninety days. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price for the company in a research note on Monday, December 15th. UBS Group lowered their price objective on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Wells Fargo & Company boosted their target price on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research note on Friday, January 30th. Royal Bank Of Canada increased 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. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $484.67.

Trane Technologies Stock Down 0.7%

Trane Technologies stock opened at $456.65 on Friday. The business’s 50-day simple moving average is $416.24 and its two-hundred day simple moving average is $416.48. 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 company has a market cap of $101.07 billion, a PE ratio of 35.18, a PEG ratio of 2.42 and a beta of 1.21. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $479.37.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data 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 firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $2.61 earnings per share. Equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

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

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.