Avanza Fonder AB Acquires Shares of 19,657 Trane Technologies plc (NYSE:TT)

Avanza Fonder AB bought a new stake in Trane Technologies plc (NYSE:TT) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 19,657 shares of the company’s stock, valued at approximately $6,839,000.

Other large investors have also recently made changes to their positions in the company. Secured Retirement Advisors LLC grew its holdings in shares of Trane Technologies by 0.6% in the fourth quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company’s stock valued at $1,709,000 after purchasing an additional 28 shares during the period. Kanawha Capital Management LLC lifted its position in Trane Technologies by 0.6% in the fourth quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company’s stock valued at $1,740,000 after buying an additional 29 shares during the last quarter. Kestra Private Wealth Services LLC lifted its position in Trane Technologies by 0.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 9,173 shares of the company’s stock valued at $3,388,000 after buying an additional 30 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Trane Technologies by 0.8% in the fourth quarter. Quadrant Capital Group LLC now owns 3,786 shares of the company’s stock valued at $1,398,000 after buying an additional 30 shares during the last quarter. Finally, TFC Financial Management Inc. lifted its position in Trane Technologies by 13.1% in the fourth quarter. TFC Financial Management Inc. now owns 277 shares of the company’s stock valued at $102,000 after buying an additional 32 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Down 0.3%

TT stock opened at $427.67 on Tuesday. The company’s 50 day moving average price is $384.52 and its 200 day moving average price is $376.28. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $436.61. The firm has a market capitalization of $95.38 billion, a price-to-earnings ratio of 38.02, a PEG ratio of 2.50 and a beta of 1.16.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.25. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.94 earnings per share. On average, equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a $0.94 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.88%. Trane Technologies’s dividend payout ratio is currently 31.28%.

Analyst Ratings Changes

A number of research analysts have commented on TT shares. Robert W. Baird upped their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. UBS Group upped their target price on shares of Trane Technologies from $470.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. Hsbc Global Res raised shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Citigroup increased their price target on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Royal Bank of Canada increased their price target on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $427.47.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.38% of the company’s stock.

About Trane Technologies

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.