Swedbank AB Sells 110,808 Shares of Trane Technologies plc $TT

Swedbank AB cut its stake in Trane Technologies plc (NYSE:TT) by 9.8% in the 1st quarter, Holdings Channel reports. The fund owned 1,024,397 shares of the company’s stock after selling 110,808 shares during the quarter. Swedbank AB’s holdings in Trane Technologies were worth $426,913,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Tucker Asset Management LLC purchased a new position in shares of Trane Technologies in the 4th quarter worth about $25,000. JPL Wealth Management LLC purchased a new position in shares of Trane Technologies during the 3rd quarter valued at about $32,000. Physician Wealth Advisors Inc. raised its holdings in shares of Trane Technologies by 192.6% during the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after buying an additional 52 shares in the last quarter. Hilton Head Capital Partners LLC bought a new stake in Trane Technologies in the 4th quarter worth approximately $32,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in Trane Technologies in the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 3.8%

Shares of NYSE:TT traded down $18.53 during trading on Tuesday, reaching $468.71. 203,443 shares of the company traded hands, compared to its average volume of 1,486,437. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $505.87. The firm has a market capitalization of $103.61 billion, a price-to-earnings ratio of 36.24, a P/E/G ratio of 2.20 and a beta of 1.19. The business’s fifty day moving average is $470.69 and its 200-day moving average is $441.25.

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

Trane Technologies Dividend Announcement

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

Insider Activity

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the transaction, the chief financial officer owned 60,576 shares in the company, valued at $27,259,200. The trade was a 12.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 the company’s stock in a transaction that occurred on 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 transaction, the insider directly owned 3,819 shares of the company’s stock, valued at $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. Corporate insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the topic of a number of recent research reports. Sanford C. Bernstein assumed coverage on shares of Trane Technologies in a research report on Tuesday, June 9th. They set an “outperform” rating and a $550.00 price target on the stock. Royal Bank Of Canada upped their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Evercore assumed coverage on shares of Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, BNP Paribas Exane started coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $509.12.

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.