Lansforsakringar Fondforvaltning AB publ purchased a new stake in Trane Technologies plc (NYSE:TT - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 183,614 shares of the company's stock, valued at approximately $67,818,000. Trane Technologies comprises 0.8% of Lansforsakringar Fondforvaltning AB publ's portfolio, making the stock its 26th biggest position. Lansforsakringar Fondforvaltning AB publ owned approximately 0.08% of Trane Technologies as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Stonegate Investment Group LLC grew its stake in Trane Technologies by 11.9% during the 4th quarter. Stonegate Investment Group LLC now owns 15,378 shares of the company's stock worth $5,680,000 after buying an additional 1,633 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in Trane Technologies by 1,490.3% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 19,417 shares of the company's stock worth $7,172,000 after buying an additional 18,196 shares during the last quarter. Longboard Asset Management LP bought a new position in Trane Technologies during the 4th quarter worth $257,000. Consolidated Planning Corp grew its stake in Trane Technologies by 8.3% during the 4th quarter. Consolidated Planning Corp now owns 14,252 shares of the company's stock worth $5,264,000 after buying an additional 1,091 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in Trane Technologies by 4.9% during the 4th quarter. Van ECK Associates Corp now owns 52,058 shares of the company's stock worth $19,228,000 after buying an additional 2,438 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.
Trane Technologies Trading Down 0.5%
Shares of NYSE TT traded down $2.12 during mid-day trading on Friday, hitting $430.17. 2,264,866 shares of the company traded hands, compared to its average volume of 1,355,140. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $436.61. The stock has a market capitalization of $95.94 billion, a price-to-earnings ratio of 38.24, a PEG ratio of 2.50 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average of $373.99 and a two-hundred day moving average of $375.52.
Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 35.37% and a net margin of 12.94%. Trane Technologies's quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.94 earnings per share. On average, sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.
Trane Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.87%. The ex-dividend date is Friday, June 6th. Trane Technologies's payout ratio is currently 31.28%.
Analyst Upgrades and Downgrades
TT has been the subject of a number of recent research reports. Royal Bank of Canada upped their price objective on Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 1st. HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and boosted their price target for the stock from $405.00 to $415.00 in a research report on Friday, April 25th. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Robert W. Baird boosted their price target on Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Finally, Barclays reduced their price target on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $427.47.
View Our Latest Stock Analysis on TT
Insiders Place Their Bets
In other news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider now owns 3,593 shares of the company's stock, valued at approximately $1,365,340. This represents a 49.85% decrease in their position. 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.
Trane Technologies Company Profile
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Free Report)
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.
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