Handelsbanken Fonder AB Buys 41,477 Shares of Trane Technologies plc (NYSE:TT)

Handelsbanken Fonder AB raised its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 189.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,404 shares of the company's stock after purchasing an additional 41,477 shares during the period. Handelsbanken Fonder AB's holdings in Trane Technologies were worth $21,362,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TT. Secured Retirement Advisors LLC grew its stake in shares of Trane Technologies by 0.6% in the fourth quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company's stock worth $1,709,000 after purchasing an additional 28 shares during the last quarter. Kanawha Capital Management LLC grew its stake in shares of Trane Technologies by 0.6% in the fourth quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company's stock worth $1,740,000 after purchasing an additional 29 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Trane Technologies by 0.8% in the fourth quarter. Quadrant Capital Group LLC now owns 3,786 shares of the company's stock worth $1,398,000 after purchasing an additional 30 shares during the last quarter. TFC Financial Management Inc. grew its stake in shares of Trane Technologies by 13.1% in the fourth quarter. TFC Financial Management Inc. now owns 277 shares of the company's stock worth $102,000 after purchasing an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC grew its stake in shares of Trane Technologies by 0.7% in the fourth quarter. Prossimo Advisors LLC now owns 4,463 shares of the company's stock worth $1,648,000 after purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Down 0.8%

NYSE TT traded down $3.47 during mid-day trading on Friday, reaching $420.84. The stock had a trading volume of 1,230,048 shares, compared to its average volume of 1,346,793. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $436.61. The stock has a market cap of $93.85 billion, a PE ratio of 37.41, a price-to-earnings-growth ratio of 2.50 and a beta of 1.16. The company has a fifty day moving average price of $392.71 and a 200 day moving average price of $376.73. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

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, topping analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same period in the previous year, the business earned $1.94 EPS. The firm's revenue for the quarter was up 11.2% on a year-over-year basis. On average, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.89%. Trane Technologies's payout ratio is currently 31.28%.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the sale, the insider now owns 3,593 shares of the company's stock, valued at approximately $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.38% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on TT. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. UBS Group raised their price objective on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Robert W. Baird raised their price objective on shares of Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Barclays lowered their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $427.47.

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.