Forsta AP Fonden Buys 9,400 Shares of Trane Technologies plc $TT

Forsta AP Fonden grew its stake in Trane Technologies plc (NYSE:TT) by 12.6% during the second quarter, HoldingsChannel reports. The firm owned 84,100 shares of the company’s stock after buying an additional 9,400 shares during the quarter. Forsta AP Fonden’s holdings in Trane Technologies were worth $36,786,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Ethic Inc. raised its holdings in Trane Technologies by 6.6% in the 2nd quarter. Ethic Inc. now owns 26,836 shares of the company’s stock valued at $11,601,000 after buying an additional 1,672 shares during the last quarter. Triton Financial Group Inc bought a new position in shares of Trane Technologies during the second quarter valued at $1,273,000. OMNI 360 Wealth Inc. bought a new stake in shares of Trane Technologies in the second quarter worth $345,000. Jones Financial Companies Lllp increased its holdings in Trane Technologies by 350.3% in the first quarter. Jones Financial Companies Lllp now owns 21,191 shares of the company’s stock valued at $7,140,000 after purchasing an additional 16,485 shares during the period. Finally, BROOKFIELD Corp ON raised its position in Trane Technologies by 11.0% during the 1st quarter. BROOKFIELD Corp ON now owns 8,227 shares of the company’s stock worth $2,772,000 after purchasing an additional 812 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 2.8%

Trane Technologies stock opened at $421.20 on Wednesday. The company has a market capitalization of $93.40 billion, a PE ratio of 33.40, a PEG ratio of 2.66 and a beta of 1.16. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The firm’s fifty day moving average is $419.39 and its 200 day moving average is $424.42. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.08. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same period last year, the company posted $3.37 earnings per share. The business’s quarterly revenue was up 5.5% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. As a group, sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be issued a $0.94 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.76 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio is presently 28.92%.

Insider Buying and Selling

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total transaction of $264,000.00. Following the completion of the sale, the chief accounting officer owned 7,148 shares in the company, valued at approximately $3,145,120. The trade was a 7.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 22,497 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the completion of the transaction, the chief executive officer directly owned 123,713 shares in the company, valued at $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Northcoast Research cut Trane Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, August 1st. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Wells Fargo & Company boosted their price target on shares of Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a research report on Monday, October 6th. Robert W. Baird increased their price objective on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Finally, Royal Bank Of Canada lifted their target price on shares of Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a research note on Friday, October 31st. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $466.50.

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.