Trane Technologies plc $TT Shares Acquired by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB more than doubled its stake in Trane Technologies during the fourth quarter, boosting holdings by 116.5% to 175,663 shares valued at about $68.4 million.
• Insiders were net sellers recently, including CEO David S. Regnery and CAO Elizabeth A. Elwell, with total insider sales of 53,654 shares worth about $23.3 million over the past 90 days.
• Trane Technologies reported better-than-expected quarterly results, beating EPS and revenue estimates, and it raised analyst attention with a consensus rating of Moderate Buy and an average price target of $506.56.

AMF Tjanstepension AB grew its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 116.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 175,663 shares of the company's stock after acquiring an additional 94,509 shares during the period. AMF Tjanstepension AB owned about 0.08% of Trane Technologies worth $68,368,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Aptus Capital Advisors LLC boosted its holdings in Trane Technologies by 169.8% during the third quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company's stock worth $6,219,000 after buying an additional 9,276 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Trane Technologies during the third quarter worth $6,571,000. Boston Common Asset Management LLC purchased a new stake in Trane Technologies during the third quarter worth $9,546,000. Compass Wealth Management LLC boosted its holdings in Trane Technologies by 3,785.4% during the third quarter. Compass Wealth Management LLC now owns 27,198 shares of the company's stock worth $11,476,000 after buying an additional 26,498 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Trane Technologies by 2.9% during the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company's stock worth $1,010,419,000 after buying an additional 72,998 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trane Technologies

In other news, CAO Elizabeth A. Elwell sold 635 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $268,414.50. Following the completion of the sale, the chief accounting officer directly owned 7,100 shares in the company, valued at $3,001,170. This represents a 8.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David S. Regnery sold 36,045 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the sale, the chief executive officer owned 96,948 shares of the company's stock, valued at $40,978,950.12. This trade represents a 27.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 53,654 shares of company stock valued at $23,269,523 over the last ninety days. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TT shares. Barclays increased their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Royal Bank Of Canada increased their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a "sector perform" rating in a report on Friday, May 1st. Oppenheimer increased their price target on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an "outperform" rating in a report on Friday, January 30th. JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. Finally, Wells Fargo & Company increased their price target on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an "underweight" rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $506.56.

Trane Technologies Stock Performance

NYSE:TT opened at $460.22 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The company has a fifty day moving average of $450.65 and a two-hundred day moving average of $429.09. The stock has a market capitalization of $101.73 billion, a PE ratio of 35.59, a P/E/G ratio of 2.15 and a beta of 1.25. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $2.53 by $0.10. The company had revenue of $4.97 billion during the quarter, compared to analysts' expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.45 earnings per share. Trane Technologies has set its FY 2026 guidance at 14.750-14.950 EPS. As a group, research analysts forecast that Trane Technologies plc will post 14.9 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies's dividend payout ratio is 32.48%.

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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