Trane Technologies plc (NYSE:TT) Shares Acquired by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Trane Technologies plc (NYSE:TT) by 14.7% during the 1st quarter, Holdings Channel reports. The firm owned 52,349 shares of the company’s stock after purchasing an additional 6,700 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Trane Technologies were worth $17,637,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TT. WFA Asset Management Corp lifted its stake in shares of Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new position in Trane Technologies during the fourth quarter worth about $26,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of Trane Technologies in the 1st quarter valued at approximately $31,000. Finally, Bogart Wealth LLC raised its stake in shares of Trane Technologies by 97.9% in the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company’s stock valued at $31,000 after acquiring an additional 46 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the subject of a number of research reports. UBS Group lifted their price objective on shares of Trane Technologies from $500.00 to $544.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 1st. Finally, Barclays boosted their price objective on shares of Trane Technologies from $480.00 to $495.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $458.60.

Trane Technologies Stock Down 0.8%

TT stock opened at $435.30 on Thursday. The company has a fifty day moving average price of $435.54 and a 200 day moving average price of $390.67. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. The company has a market cap of $96.86 billion, a price-to-earnings ratio of 34.52, a price-to-earnings-growth ratio of 2.73 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the prior year, the firm earned $3.30 EPS. Trane Technologies’s revenue for the quarter was up 7.6% on a year-over-year basis. Sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 5th. Trane Technologies’s payout ratio is 29.82%.

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.