AMF Tjanstepension AB Has $40.99 Million Holdings in Trane Technologies plc $TT

Key Points

• AMF Tjanstepension AB increased its holdings in Trane Technologies plc by 153.8%, owning 93,683 shares valued at approximately $40.99 million as of the latest quarter.
• Trane Technologies reported $3.88 earnings per share for the last quarter, exceeding analysts' expectations of $3.79, with a net margin of 13.76%.
• Recent analyst ratings for Trane Technologies include a downgrade from "strong-buy" to "hold" by HSBC Global Research, while Morgan Stanley raised its price target from $445 to $520.

AMF Tjanstepension AB boosted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 153.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,683 shares of the company's stock after acquiring an additional 56,766 shares during the period. AMF Tjanstepension AB's holdings in Trane Technologies were worth $40,992,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TT. Csenge Advisory Group raised its stake in Trane Technologies by 0.6% during the first quarter. Csenge Advisory Group now owns 3,944 shares of the company's stock worth $1,314,000 after acquiring an additional 25 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in shares of Trane Technologies by 23.4% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 137 shares of the company's stock worth $46,000 after purchasing an additional 26 shares during the last quarter. Fiera Capital Corp increased its position in shares of Trane Technologies by 1.4% during the 1st quarter. Fiera Capital Corp now owns 1,930 shares of the company's stock worth $650,000 after purchasing an additional 27 shares in the last quarter. Old Port Advisors lifted its holdings in Trane Technologies by 3.7% during the 2nd quarter. Old Port Advisors now owns 754 shares of the company's stock valued at $330,000 after purchasing an additional 27 shares during the last quarter. Finally, Bingham Private Wealth LLC boosted its position in Trane Technologies by 3.2% in the first quarter. Bingham Private Wealth LLC now owns 944 shares of the company's stock valued at $318,000 after buying an additional 29 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Trading Up 0.2%

Shares of TT opened at $424.29 on Friday. The stock's fifty day simple moving average is $421.53 and its 200-day simple moving average is $406.31. The firm has a market capitalization of $94.41 billion, a PE ratio of 33.65, a price-to-earnings-growth ratio of 2.63 and a beta of 1.12. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.09. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The firm had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.77 billion. During the same period in the previous year, the business posted $3.30 EPS. The company's quarterly revenue was up 7.6% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Morgan Stanley raised their price target on Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Barclays reduced their price objective on Trane Technologies from $495.00 to $485.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 16th. Royal Bank Of Canada raised their target price on Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Finally, Citigroup reduced their price target on shares of Trane Technologies from $499.00 to $494.00 and set a "buy" rating on the stock in a research report on Wednesday, September 17th. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $457.40.

Insiders Place Their Bets

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total value of $9,223,770.00. Following the transaction, the chief executive officer directly owned 123,713 shares of the company's stock, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by corporate insiders.

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.

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