113,247 Shares in Trane Technologies plc $TT Acquired by SEB Asset Management AB

SEB Asset Management AB purchased a new position in Trane Technologies plc (NYSE:TT) during the first quarter, Holdings Channel reports. The fund purchased 113,247 shares of the company’s stock, valued at approximately $47,195,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TT. Brighton Jones LLC raised its holdings in Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after buying an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in Trane Technologies by 22.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after acquiring an additional 305 shares during the last quarter. Schnieders Capital Management LLC. purchased a new position in shares of Trane Technologies in the second quarter valued at about $227,000. Nebula Research & Development LLC raised its stake in shares of Trane Technologies by 178.0% during the second quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock valued at $1,037,000 after acquiring an additional 1,518 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of Trane Technologies by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock valued at $45,552,000 after acquiring an additional 497 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on TT. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. JPMorgan Chase & Co. upped their price target on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. KeyCorp increased their price objective on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. BNP Paribas Exane initiated coverage on Trane Technologies in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective on the stock. Finally, Citigroup boosted their target price on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $516.67.

Insider Buying and Selling at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the transaction, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This represents a 54.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Trane Technologies Trading Down 1.1%

NYSE:TT opened at $469.59 on Friday. The company has a 50-day moving average price of $469.88 and a 200-day moving average price of $446.98. The stock has a market cap of $103.80 billion, a price-to-earnings ratio of 36.32, a P/E/G ratio of 2.16 and a beta of 1.19. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $505.87.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter in the previous year, the company earned $2.45 earnings per share. Trane Technologies’s quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts predict that Trane Technologies plc will post 14.89 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is 32.48%.

Trane Technologies Profile

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.