Lansforsakringar Fondforvaltning AB publ Buys 1,257 Shares of Trane Technologies plc $TT

Lansforsakringar Fondforvaltning AB publ boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 1.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 127,910 shares of the company’s stock after acquiring an additional 1,257 shares during the period. Lansforsakringar Fondforvaltning AB publ owned 0.06% of Trane Technologies worth $53,973,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after acquiring an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Trane Technologies by 22.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock valued at $728,000 after acquiring an additional 305 shares during the period. Schnieders Capital Management LLC. purchased a new position in shares of Trane Technologies in the 2nd quarter worth approximately $227,000. Brookstone Capital Management grew its stake in Trane Technologies by 9.7% during the 2nd quarter. Brookstone Capital Management now owns 1,736 shares of the company’s stock worth $759,000 after buying an additional 154 shares during the last quarter. Finally, AlTi Global Inc. purchased a new position in shares of Trane Technologies in the 2nd quarter valued at approximately $261,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $466.84 on Friday. The company has a 50-day moving average price of $410.60 and a 200 day moving average price of $415.51. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $479.37. The company has a market cap of $103.32 billion, a P/E ratio of 35.97, a PEG ratio of 2.46 and a beta of 1.21. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.05. The company had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.61 earnings per share. Research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 28.97%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TT shares. Barclays increased their price target on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Citigroup increased their target price on Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a report on Friday, January 30th. Melius Research upgraded Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price for the company in a report on Wednesday, January 7th. Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $490.00 to $550.00 in a research note on Thursday, November 13th. Finally, Oppenheimer increased their price objective on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $484.67.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 5,588 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.60, for a total value of $2,585,008.80. Following the completion of the sale, the chief executive officer owned 96,948 shares in the company, valued at approximately $44,848,144.80. This trade represents a 5.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald E. Simmons sold 822 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.57, for a total value of $380,232.54. Following the sale, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,766,554.83. This trade represents a 17.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 8,936 shares of company stock worth $4,133,991. 0.14% of the stock is currently owned by corporate insiders.

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.