Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 1,200 Shares of Trane Technologies plc (NYSE:TT)

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its position in Trane Technologies plc (NYSE:TT) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,649 shares of the company’s stock after selling 1,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Trane Technologies were worth $16,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in TT. Global Wealth Strategies & Associates bought a new position in shares of Trane Technologies in the fourth quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new stake in Trane Technologies in the third quarter worth about $27,000. Sound Income Strategies LLC increased its position in Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares in the last quarter. Pittenger & Anderson Inc. purchased a new position in shares of Trane Technologies in the 3rd quarter worth about $39,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Trane Technologies in the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the sale, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the transaction, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,563 shares of company stock worth $4,388,966 over the last quarter. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

TT has been the topic of several recent analyst reports. UBS Group dropped their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Melius Research reissued a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research report on Thursday, October 31st. Wells Fargo & Company reduced their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Finally, Robert W. Baird cut their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $415.25.

Trane Technologies Trading Down 3.3 %

Shares of Trane Technologies stock opened at $354.56 on Monday. Trane Technologies plc has a fifty-two week low of $279.00 and a fifty-two week high of $422.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The company has a market capitalization of $79.52 billion, a P/E ratio of 31.52, a P/E/G ratio of 2.50 and a beta of 1.05. The company has a fifty day moving average of $374.82 and a 200 day moving average of $380.23.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is 29.87%.

About Trane Technologies

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.