Swedbank AB Buys 36,482 Shares of Trane Technologies plc (NYSE:TT)

Swedbank AB lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 5.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 723,394 shares of the company’s stock after acquiring an additional 36,482 shares during the period. Swedbank AB owned approximately 0.32% of Trane Technologies worth $237,946,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Trane Technologies by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock worth $5,670,032,000 after purchasing an additional 174,251 shares during the period. JPMorgan Chase & Co. raised its position in Trane Technologies by 0.5% in the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock worth $5,221,599,000 after purchasing an additional 80,536 shares during the period. Norges Bank purchased a new position in Trane Technologies in the 4th quarter worth $655,804,000. Capital World Investors increased its position in shares of Trane Technologies by 0.6% in the fourth quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock valued at $530,870,000 after acquiring an additional 11,930 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of Trane Technologies by 17.3% in the fourth quarter. Franklin Resources Inc. now owns 1,655,459 shares of the company’s stock valued at $403,766,000 after acquiring an additional 243,996 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Transactions at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 4,000 shares of the 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 owns 61,293 shares in the company, valued at $19,532,240.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the sale, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 4,000 shares of the company’s 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 sale, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,243 shares of company stock worth $14,216,550. Corporate insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $310.00 to $315.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. TD Cowen boosted their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Robert W. Baird boosted their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada boosted their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $323.29.

Trane Technologies Stock Down 1.9 %

NYSE:TT traded down $6.55 during mid-day trading on Friday, hitting $341.30. 963,268 shares of the company’s stock were exchanged, compared to its average volume of 1,132,039. Trane Technologies plc has a one year low of $184.02 and a one year high of $351.41. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.74. The business has a fifty day moving average price of $332.94 and a 200 day moving average price of $310.69. The company has a market cap of $77.25 billion, a PE ratio of 37.16, a P/E/G ratio of 2.50 and a beta of 1.01.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.08 by $0.22. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. Trane Technologies’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.68 earnings per share. Equities analysts predict that Trane Technologies plc will post 10.83 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.98%. Trane Technologies’s dividend payout ratio is presently 35.90%.

Trane Technologies 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.