Trane Technologies plc (NYSE:TT) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 59.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,148 shares of the company's stock after selling 22,163 shares during the period. Handelsbanken Fonder AB's holdings in Trane Technologies were worth $3,695,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TT. Avior Wealth Management LLC boosted its holdings in shares of Trane Technologies by 58.0% during the third quarter. Avior Wealth Management LLC now owns 177 shares of the company's stock worth $36,000 after purchasing an additional 65 shares during the period. Caprock Group LLC boosted its holdings in shares of Trane Technologies by 15.8% during the third quarter. Caprock Group LLC now owns 1,528 shares of the company's stock worth $310,000 after purchasing an additional 208 shares during the period. Czech National Bank boosted its holdings in shares of Trane Technologies by 47.9% during the third quarter. Czech National Bank now owns 39,919 shares of the company's stock worth $8,100,000 after purchasing an additional 12,922 shares during the period. Birch Hill Investment Advisors LLC boosted its holdings in shares of Trane Technologies by 3.1% during the third quarter. Birch Hill Investment Advisors LLC now owns 37,502 shares of the company's stock worth $7,610,000 after purchasing an additional 1,122 shares during the period. Finally, GDS Wealth Management boosted its holdings in shares of Trane Technologies by 8.4% during the third quarter. GDS Wealth Management now owns 37,796 shares of the company's stock worth $7,669,000 after purchasing an additional 2,942 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on TT. The Goldman Sachs Group raised their price objective on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a "neutral" rating in a report on Monday, February 5th. Citigroup raised their price objective on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a "buy" rating in a report on Monday, April 8th. Royal Bank of Canada raised their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a "sector perform" rating in a report on Friday, February 2nd. Stephens raised their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 6th. Finally, Barclays raised their price objective on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an "overweight" rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $251.83.

Insider Activity at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 2,767 shares of the firm's stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the completion of the sale, the chief financial officer now owns 54,788 shares of the company's stock, valued at $14,700,168.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of Trane Technologies stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the completion of the sale, the executive vice president now owns 89,447 shares of the company's stock, valued at approximately $24,449,442.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 2,767 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total transaction of $742,413.77. Following the completion of the sale, the chief financial officer now directly owns 54,788 shares of the company's stock, valued at approximately $14,700,168.28. The disclosure for this sale can be found here. Insiders sold 29,874 shares of company stock valued at $8,462,825 over the last 90 days. Corporate insiders own 0.39% of the company's stock.

Trane Technologies Stock Up 1.7 %

Shares of NYSE TT traded up $5.16 on Friday, reaching $304.53. 961,789 shares of the company's stock traded hands, compared to its average volume of 998,386. The company has a market cap of $69.15 billion, a price-to-earnings ratio of 34.06, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. The business's 50 day simple moving average is $291.57 and its two-hundred day simple moving average is $253.55. Trane Technologies plc has a 12 month low of $162.04 and a 12 month high of $306.98.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.04. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.82 earnings per share. As a group, equities research analysts forecast that Trane Technologies plc will post 10.2 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Thursday, June 6th. Trane Technologies's dividend payout ratio (DPR) is currently 38.23%.

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.