Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Holdings in Trane Technologies plc (NYSE:TT)

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Trane Technologies plc by 14.7% in Q1, owning a total of 52,349 shares valued at approximately $17.6 million.
• Wall Street analysts have set a consensus rating of "Hold" for Trane Technologies, with a target price averaging $458.60, while various firms have adjusted their ratings and price targets over recent months.
• Trane Technologies recently declared a quarterly dividend of $0.94 per share, translating to an annual yield of 0.9% and a dividend payout ratio of 29.82%.

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 14.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,349 shares of the company's stock after acquiring an additional 6,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Trane Technologies were worth $17,637,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Minot DeBlois Advisors LLC purchased a new stake in Trane Technologies during the fourth quarter valued at approximately $26,000. WFA Asset Management Corp raised its holdings in shares of Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after buying an additional 50 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Trane Technologies in the fourth quarter worth $28,000. Opal Wealth Advisors LLC purchased a new position in shares of Trane Technologies in the first quarter worth $31,000. Finally, Bogart Wealth LLC raised its holdings in shares of Trane Technologies by 97.9% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

TT has been the subject of a number of research analyst reports. Robert W. Baird raised their price target on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. UBS Group raised their price target on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Morgan Stanley raised their price target on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Northcoast Research lowered shares of Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. Finally, Wells Fargo & Company increased their price objective on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $458.60.

Trane Technologies Stock Down 0.8%

TT stock opened at $435.30 on Thursday. The firm has a market cap of $96.86 billion, a PE ratio of 34.52, a P/E/G ratio of 2.73 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. The firm's fifty day moving average is $435.54 and its 200 day moving average is $390.67. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.79 by $0.09. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm's revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the business earned $3.30 earnings per share. On average, research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current 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 given a $0.94 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is 29.82%.

Trane Technologies 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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