Mn Services Vermogensbeheer B.V. Has $28.39 Million Stock Position in Trane Technologies plc (NYSE:TT)

Mn Services Vermogensbeheer B.V. cut its stake in Trane Technologies plc (NYSE:TT - Free Report) by 6.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,273 shares of the company's stock after selling 6,000 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Trane Technologies were worth $28,393,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Trane Technologies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock worth $7,104,658,000 after acquiring an additional 152,353 shares during the last quarter. Geode Capital Management LLC lifted its stake in Trane Technologies by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock worth $1,760,549,000 after acquiring an additional 136,349 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Trane Technologies by 4.1% during the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock valued at $1,234,908,000 after acquiring an additional 130,867 shares during the period. Norges Bank acquired a new stake in shares of Trane Technologies during the fourth quarter worth about $1,117,816,000. Finally, Northern Trust Corp boosted its stake in shares of Trane Technologies by 20.1% in the fourth 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 during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on TT. Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a research note on Thursday, May 1st. Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. increased their target price on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Wells Fargo & Company raised their price objective on Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Finally, Barclays decreased their target price on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $427.47.

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider now owns 3,593 shares of the company's stock, valued at $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.38% of the company's stock.

Trane Technologies Stock Up 2.1%

NYSE:TT traded up $8.83 during mid-day trading on Monday, hitting $430.22. The company had a trading volume of 388,711 shares, compared to its average volume of 1,343,088. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $436.61. The business has a fifty day simple moving average of $392.71 and a 200-day simple moving average of $376.46. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $95.95 billion, a price-to-earnings ratio of 38.26, a PEG ratio of 2.50 and a beta of 1.16.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $4.46 billion. During the same quarter last year, the company earned $1.94 earnings per share. Trane Technologies's revenue for the quarter was up 11.2% on a year-over-year basis. Equities analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.87%. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

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.