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Swiss National Bank Reduces Stock Position in Trane Technologies plc (NYSE:TT)

Trane Technologies logo with Construction background

Key Points

  • The Swiss National Bank reduced its holdings in Trane Technologies plc by 0.5%, bringing its ownership to approximately 634,603 shares valued at $213.8 million.
  • Several large investors, including AMF Tjanstepension AB and Caisse Des Depots ET Consignations, significantly increased their stakes in Trane Technologies during the first quarter.
  • Analysts have mixed views on Trane Technologies, with Morgan Stanley increasing its target price to $520.00, while HSBC downgraded their rating from "buy" to "hold."
  • Looking to export and analyze Trane Technologies data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Swiss National Bank lessened its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 0.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 634,603 shares of the company's stock after selling 2,900 shares during the quarter. Swiss National Bank owned approximately 0.28% of Trane Technologies worth $213,810,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Trane Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company's stock valued at $6,555,377,000 after acquiring an additional 221,206 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Trane Technologies by 4.1% in the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock worth $1,234,908,000 after purchasing an additional 130,867 shares in the last quarter. Northern Trust Corp boosted its position in shares of Trane Technologies by 20.1% in the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after purchasing an additional 429,953 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Trane Technologies by 1.6% in the 4th quarter. Nuveen Asset Management LLC now owns 2,332,626 shares of the company's stock worth $861,555,000 after purchasing an additional 37,389 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Trane Technologies by 8.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,319,287 shares of the company's stock worth $856,629,000 after purchasing an additional 177,206 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TT. Hsbc Global Res cut Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Northcoast Research downgraded Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. HSBC downgraded Trane Technologies from a "buy" rating to a "hold" rating and boosted their price target for the company from $415.00 to $460.00 in a research note on Thursday, July 31st. Royal Bank Of Canada boosted their price target 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, UBS Group boosted their price objective on Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $458.60.

Get Our Latest Stock Analysis on Trane Technologies

Trane Technologies Trading Up 2.6%

Trane Technologies stock traded up $10.98 during mid-day trading on Tuesday, hitting $439.05. The company's stock had a trading volume of 1,225,620 shares, compared to its average volume of 1,482,166. The firm has a market capitalization of $97.69 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock's fifty day moving average is $435.38 and its two-hundred day moving average is $390.02.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.79 by $0.09. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same quarter in the previous year, the company earned $3.30 earnings per share. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. On average, analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid 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 dividend yield of 0.9%. Trane Technologies's payout ratio is presently 29.82%.

About Trane Technologies

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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