Trane Technologies plc (NYSE:TT) Shares Purchased by Achmea Investment Management B.V.

Achmea Investment Management B.V. increased its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 28.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,225 shares of the company's stock after purchasing an additional 43,680 shares during the quarter. Trane Technologies makes up 1.0% of Achmea Investment Management B.V.'s holdings, making the stock its 14th largest position. Achmea Investment Management B.V. owned 0.09% of Trane Technologies worth $67,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Trane Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock worth $7,104,658,000 after buying an additional 152,353 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Trane Technologies by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock valued at $1,760,549,000 after acquiring an additional 136,349 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Trane Technologies by 4.1% in the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock valued at $1,234,908,000 after purchasing an additional 130,867 shares during the last quarter. Norges Bank acquired a new stake in Trane Technologies in the 4th quarter worth approximately $1,117,816,000. Finally, Northern Trust Corp increased its stake in Trane Technologies by 20.1% during the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock valued at $948,316,000 after purchasing an additional 429,953 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of research analyst reports. Citigroup boosted their price objective on shares of Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. lifted 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. Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. UBS Group lifted their target price on Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $427.47.

Insider Activity

In related news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value 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 represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.38% of the company's stock.

Trane Technologies Price Performance

NYSE:TT traded up $5.26 during trading hours on Monday, hitting $437.55. 1,254,292 shares of the stock were exchanged, compared to its average volume of 1,533,744. The company has a market cap of $97.58 billion, a P/E ratio of 36.40, a P/E/G ratio of 2.84 and a beta of 1.16. The firm's fifty day moving average price is $410.28 and its 200 day moving average price is $377.62. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $438.15. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter last year, the firm posted $1.94 EPS. The firm's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Friday, September 5th. Trane Technologies's dividend payout ratio is currently 31.28%.

Trane Technologies Company Profile

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.