Forsta AP Fonden Trims Holdings in Trane Technologies plc (NYSE:TT)

Forsta AP Fonden cut its stake in Trane Technologies plc (NYSE:TT) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,200 shares of the company’s stock after selling 1,300 shares during the quarter. Forsta AP Fonden’s holdings in Trane Technologies were worth $27,406,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Smith Group Asset Management LLC raised its stake in Trane Technologies by 235.1% during the fourth quarter. Smith Group Asset Management LLC now owns 2,580 shares of the company’s stock worth $953,000 after purchasing an additional 1,810 shares during the period. BOCHK Asset Management Ltd acquired a new stake in shares of Trane Technologies during the 4th quarter worth approximately $443,000. R Squared Ltd purchased a new stake in shares of Trane Technologies during the 4th quarter valued at approximately $443,000. Foster Group Inc. lifted its holdings in Trane Technologies by 1.3% in the fourth quarter. Foster Group Inc. now owns 2,800 shares of the company’s stock valued at $1,034,000 after acquiring an additional 37 shares during the last quarter. Finally, SteelPeak Wealth LLC grew its position in Trane Technologies by 2.0% in the fourth quarter. SteelPeak Wealth LLC now owns 2,189 shares of the company’s stock worth $809,000 after acquiring an additional 42 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of recent analyst reports. Mizuho upped their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Citigroup decreased their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday. The Goldman Sachs Group raised their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, UBS Group began coverage on Trane Technologies in a report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price objective on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and an average target price of $417.81.

Insiders Place Their Bets

In related news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Stock Down 0.6 %

Trane Technologies stock opened at $365.41 on Wednesday. The stock’s fifty day moving average is $392.55 and its two-hundred day moving average is $376.35. The stock has a market cap of $82.23 billion, a PE ratio of 33.90, a P/E/G ratio of 2.16 and a beta of 1.06. Trane Technologies plc has a 1-year low of $250.77 and a 1-year high of $422.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company earned $2.79 EPS. On average, sell-side analysts expect that Trane Technologies plc will post 11.16 EPS for the current fiscal year.

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.