Varma Mutual Pension Insurance Co Has $18.49 Million Holdings in Trane Technologies plc $TT

Varma Mutual Pension Insurance Co lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 9.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,811 shares of the company’s stock after acquiring an additional 3,600 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Trane Technologies were worth $18,486,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in TT. Norges Bank bought a new stake in Trane Technologies during the second quarter worth approximately $1,356,065,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Trane Technologies by 229.3% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock worth $766,583,000 after buying an additional 1,220,388 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Trane Technologies by 89.1% during the 2nd quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock worth $1,066,845,000 after buying an additional 1,157,405 shares during the period. ABN AMRO Bank N.V. bought a new stake in shares of Trane Technologies during the 2nd quarter worth $291,206,000. Finally, Corient Private Wealth LLC grew its stake in Trane Technologies by 135.4% in the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock valued at $321,757,000 after buying an additional 423,090 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Trane Technologies

In other news, insider Donald E. Simmons sold 822 shares of the stock in a transaction 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 completion of the transaction, the insider owned 3,819 shares in the company, valued at approximately $1,766,554.83. This represents a 17.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Christopher J. Kuehn sold 2,389 shares of Trane Technologies stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the sale, the chief financial officer owned 60,486 shares in the company, valued at approximately $27,986,872.20. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 8,936 shares of company stock worth $4,133,991. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies Trading Down 2.6%

Shares of TT opened at $460.37 on Friday. The stock’s 50-day moving average price is $402.63 and its 200 day moving average price is $414.89. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $101.89 billion, a price-to-earnings ratio of 35.47, a P/E/G ratio of 2.49 and a beta of 1.21. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $479.37.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data 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 return on equity of 36.34% and a net margin of 13.69%.Trane Technologies’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.61 EPS. As a group, research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

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

Analyst Upgrades and Downgrades

TT has been the subject of a number of research analyst reports. Citigroup boosted their target price on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. UBS Group cut their price objective on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Bank of America upgraded Trane Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $490.00 to $550.00 in a research note on Thursday, November 13th. Barclays lifted 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. Finally, Morgan Stanley cut their price target on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $484.67.

About Trane Technologies

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.