Trane Technologies plc $TT Shares Purchased by AMF Tjanstepension AB

AMF Tjanstepension AB increased its position in shares of Trane Technologies plc (NYSE:TT) by 116.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 175,663 shares of the company’s stock after purchasing an additional 94,509 shares during the period. AMF Tjanstepension AB’s holdings in Trane Technologies were worth $68,368,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TT. ProShare Advisors LLC boosted its stake in Trane Technologies by 8.5% during the fourth quarter. ProShare Advisors LLC now owns 45,387 shares of the company’s stock worth $17,665,000 after buying an additional 3,574 shares during the period. HighTower Advisors LLC increased its position in shares of Trane Technologies by 3.2% during the fourth quarter. HighTower Advisors LLC now owns 134,418 shares of the company’s stock valued at $52,316,000 after acquiring an additional 4,152 shares during the last quarter. Trustco Bank Corp N Y acquired a new stake in shares of Trane Technologies during the fourth quarter valued at about $222,000. Tucker Asset Management LLC acquired a new stake in shares of Trane Technologies during the fourth quarter valued at about $25,000. Finally, RiverFront Investment Group LLC increased its position in shares of Trane Technologies by 9.0% during the fourth quarter. RiverFront Investment Group LLC now owns 1,290 shares of the company’s stock valued at $502,000 after acquiring an additional 107 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction that occurred on Thursday, April 30th. The shares were 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 in the company, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David S. Regnery sold 36,045 shares of Trane Technologies stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the transaction, the chief executive officer owned 96,948 shares of the company’s stock, valued at $40,978,950.12. This represents a 27.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 53,654 shares of company stock worth $23,269,523 over the last three months. Insiders own 0.14% of the company’s stock.

Trane Technologies Trading Down 1.4%

NYSE TT opened at $460.22 on Tuesday. The firm has a 50 day simple moving average of $450.65 and a 200-day simple moving average of $429.09. 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 plc has a one year low of $348.06 and a one year high of $503.47. The firm has a market cap of $101.73 billion, a price-to-earnings ratio of 35.59, a PEG ratio of 2.15 and a beta of 1.25.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, April 30th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter in the previous year, the firm earned $2.45 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Trane Technologies has set its FY 2026 guidance at 14.750-14.950 EPS. Equities research analysts anticipate that Trane Technologies plc will post 14.9 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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

Wall Street Analysts Forecast Growth

TT has been the subject of a number of recent analyst reports. KeyCorp lifted their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Oppenheimer lifted their price target on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Evercore initiated coverage on shares of Trane Technologies in a research report on Monday, April 13th. They set an “outperform” rating and a $535.00 price target for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Finally, Barclays raised their price objective on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $506.56.

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.