Handelsbanken Fonder AB Grows Stock Holdings in Trane Technologies plc $TT

Handelsbanken Fonder AB lifted its position in shares of Trane Technologies plc (NYSE:TT) by 8.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 150,809 shares of the company’s stock after purchasing an additional 11,578 shares during the period. Handelsbanken Fonder AB’s holdings in Trane Technologies were worth $58,695,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. AMF Tjanstepension AB lifted its position in shares of Trane Technologies by 116.5% during the 4th quarter. AMF Tjanstepension AB now owns 175,663 shares of the company’s stock worth $68,368,000 after purchasing an additional 94,509 shares during the last quarter. ProShare Advisors LLC raised its stake in Trane Technologies by 8.5% during the 4th quarter. ProShare Advisors LLC now owns 45,387 shares of the company’s stock worth $17,665,000 after acquiring an additional 3,574 shares in the last quarter. HighTower Advisors LLC raised its stake in Trane Technologies by 3.2% during the 4th quarter. HighTower Advisors LLC now owns 134,418 shares of the company’s stock worth $52,316,000 after acquiring an additional 4,152 shares in the last quarter. Trustco Bank Corp N Y acquired a new stake in Trane Technologies during the 4th quarter worth $222,000. Finally, Tucker Asset Management LLC acquired a new stake in Trane Technologies during the 4th quarter worth $25,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TT has been the topic of several research analyst reports. BNP Paribas Exane initiated coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price target on the stock. Evercore initiated coverage on shares of Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 price target on the stock. KeyCorp lifted their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Oppenheimer lifted their price target on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Finally, Barclays lifted their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Trane Technologies presently has an average rating of “Moderate Buy” and an average price target of $506.56.

Trane Technologies Trading Down 1.4%

NYSE TT opened at $460.22 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The firm has a market cap of $101.73 billion, a PE ratio of 35.59, a P/E/G ratio of 2.15 and a beta of 1.25. Trane Technologies plc has a one year low of $348.06 and a one year high of $503.47. The firm’s fifty day moving average is $450.65 and its two-hundred day moving average is $429.09.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, April 30th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The company had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. Trane Technologies’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.45 earnings per share. Trane Technologies has set its FY 2026 guidance at 14.750-14.950 EPS. Analysts expect that Trane Technologies plc will post 14.9 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s payout ratio is presently 32.48%.

Insider Activity

In other news, CAO Elizabeth A. Elwell sold 635 shares of Trane Technologies stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $268,414.50. Following the sale, the chief accounting officer owned 7,100 shares of the company’s stock, valued at $3,001,170. The trade was a 8.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 36,045 shares of Trane Technologies stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the sale, the chief executive officer directly owned 96,948 shares in the company, valued at approximately $40,978,950.12. The trade was a 27.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 53,654 shares of company stock worth $23,269,523 in the last ninety days. 0.14% of the stock is currently owned by insiders.

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.