Andra AP fonden Purchases 23,480 Shares of Trane Technologies plc $TT

Key Points

• Andra AP fonden increased its Trane Technologies stake by 361.2% in the first quarter, buying 23,480 additional shares and bringing its total holdings to 29,980 shares valued at about $12.5 million.
• Trane Technologies reported strong quarterly results, with EPS of $2.63 and revenue of $4.97 billion, both ahead of analyst expectations. Revenue also rose 6.0% year over year.
• The company announced a quarterly dividend of $1.05 per share, payable Sept. 30, while Wall Street remains constructive overall with a Moderate Buy consensus and an average price target of $516.67.

Andra AP fonden boosted its position in Trane Technologies plc (NYSE:TT - Free Report) by 361.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,980 shares of the company's stock after purchasing an additional 23,480 shares during the quarter. Andra AP fonden's holdings in Trane Technologies were worth $12,494,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. Tucker Asset Management LLC bought a new stake in Trane Technologies during the fourth quarter worth about $25,000. Wilkerson Advisory Group LLC lifted its holdings in shares of Trane Technologies by 136.0% during the 1st quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company's stock worth $25,000 after acquiring an additional 34 shares during the period. Hilton Head Capital Partners LLC acquired a new stake in shares of Trane Technologies during the 4th quarter worth approximately $32,000. JPL Wealth Management LLC bought a new position in Trane Technologies in the third quarter valued at approximately $32,000. Finally, Physician Wealth Advisors Inc. increased its stake in Trane Technologies by 192.6% in the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company's stock valued at $33,000 after acquiring an additional 52 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Trading Up 0.5%

Shares of NYSE TT opened at $470.42 on Wednesday. The firm has a 50 day moving average price of $469.78 and a two-hundred day moving average price of $448.47. The stock has a market cap of $103.99 billion, a P/E ratio of 36.38, a price-to-earnings-growth ratio of 2.15 and a beta of 1.19. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $505.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business's revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.45 EPS. As a group, equities analysts forecast that Trane Technologies plc will post 14.89 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies's payout ratio is presently 32.48%.

Insider Transactions at Trane Technologies

In related news, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider directly owned 3,819 shares of the company's stock, valued at $1,909,500. This represents a 54.60% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. BNP Paribas Exane started coverage on Trane Technologies in a research report on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 target price on the stock. Royal Bank Of Canada raised their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the company a "sector perform" rating in a research note on Friday, May 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Trane Technologies in a report on Friday. Citigroup upped their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Finally, Sanford C. Bernstein set a $555.00 price objective on shares of Trane Technologies in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Trane Technologies currently has an average rating of "Moderate Buy" and an average target price of $516.67.

Trane Technologies Company Profile

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.

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