Lansforsakringar Fondforvaltning AB publ Boosts Stock Holdings in Trane Technologies plc $TT

Lansforsakringar Fondforvaltning AB publ raised its position in shares of Trane Technologies plc (NYSE:TT) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 129,368 shares of the company’s stock after purchasing an additional 1,744 shares during the period. Lansforsakringar Fondforvaltning AB publ owned 0.06% of Trane Technologies worth $53,913,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Tucker Asset Management LLC purchased a new stake in Trane Technologies in the 4th quarter worth about $25,000. Hilton Head Capital Partners LLC purchased a new stake in Trane Technologies during the fourth quarter valued at about $32,000. JPL Wealth Management LLC bought a new position in Trane Technologies during the third quarter worth about $32,000. Kemnay Advisory Services Inc. purchased a new position in shares of Trane Technologies in the fourth quarter worth about $34,000. Finally, Creative Financial Designs Inc. ADV raised its position in shares of Trane Technologies by 119.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock valued at $35,000 after purchasing an additional 49 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Trading Up 0.3%

Shares of TT stock opened at $479.41 on Tuesday. The company has a market capitalization of $105.97 billion, a PE ratio of 37.08, a price-to-earnings-growth ratio of 2.20 and a beta of 1.20. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $505.87. The business’s fifty day moving average is $470.26 and its 200 day moving average is $438.84. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10.

Trane Technologies (NYSE:TT) last announced its earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.45 EPS. On average, equities research analysts anticipate that Trane Technologies plc will post 14.88 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio is 32.48%.

Analyst Upgrades and Downgrades

Several research firms recently commented on TT. Royal Bank Of Canada raised their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. JPMorgan Chase & Co. increased their target price on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Evercore assumed coverage on Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 price objective on the stock. Finally, Barclays lifted their target price on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Trane Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $509.12.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the sale, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares in the company, valued at $1,909,500. The trade was a 54.60% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 Company 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.