AMF Tjanstepension AB Sells 22,460 Shares of Trane Technologies plc (NYSE:TT)

AMF Tjanstepension AB reduced its position in shares of Trane Technologies plc (NYSE:TT) by 41.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 32,220 shares of the company’s stock after selling 22,460 shares during the quarter. AMF Tjanstepension AB’s holdings in Trane Technologies were worth $9,672,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LPL Financial LLC raised its holdings in Trane Technologies by 10.1% in the 3rd quarter. LPL Financial LLC now owns 116,810 shares of the company’s stock worth $23,702,000 after purchasing an additional 10,686 shares in the last quarter. Operose Advisors LLC bought a new position in Trane Technologies in the 3rd quarter worth $53,000. O Shaughnessy Asset Management LLC grew its position in shares of Trane Technologies by 29.8% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 12,066 shares of the company’s stock worth $2,448,000 after buying an additional 2,770 shares during the period. Trexquant Investment LP bought a new position in shares of Trane Technologies in the 3rd quarter worth about $371,000. Finally, Treasurer of the State of North Carolina increased its stake in shares of Trane Technologies by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 103,295 shares of the company’s stock worth $20,960,000 after acquiring an additional 523 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Performance

Shares of TT stock opened at $328.93 on Friday. The company has a 50 day moving average price of $324.44 and a 200-day moving average price of $289.08. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $345.46. The firm has a market capitalization of $74.45 billion, a PE ratio of 35.14, a P/E/G ratio of 2.65 and a beta of 1.01. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The firm had revenue of $4.22 billion during the quarter, compared to analyst estimates of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.41 earnings per share. As a group, equities research analysts expect that Trane Technologies plc will post 10.48 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s payout ratio is 35.90%.

Insider Buying and Selling

In related news, SVP Evan M. Turtz sold 8,988 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the transaction, the senior vice president now owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the transaction, the senior vice president now owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of Trane Technologies stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the transaction, the chief financial officer now directly owns 61,293 shares in the company, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Analyst Ratings Changes

TT has been the subject of several research reports. Citigroup increased their price target on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. TD Cowen raised their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Stephens raised their price objective on shares of Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. Finally, Robert W. Baird raised their price objective on shares of Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $309.79.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.