Handelsbanken Fonder AB Sells 22,163 Shares of Trane Technologies plc (NYSE:TT)

Handelsbanken Fonder AB reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 59.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,148 shares of the company’s stock after selling 22,163 shares during the quarter. Handelsbanken Fonder AB’s holdings in Trane Technologies were worth $3,695,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TT. BKM Wealth Management LLC acquired a new position in Trane Technologies in the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC lifted its holdings in Trane Technologies by 139.7% in the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock valued at $31,000 after buying an additional 88 shares during the period. Avior Wealth Management LLC lifted its holdings in Trane Technologies by 58.0% in the third quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock valued at $36,000 after buying an additional 65 shares during the period. Ancora Advisors LLC acquired a new position in Trane Technologies in the third quarter valued at approximately $40,000. Finally, Rosenberg Matthew Hamilton lifted its holdings in Trane Technologies by 27.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after buying an additional 41 shares during the period. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TT shares. Citigroup increased their price objective on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a report on Monday, April 8th. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. The Goldman Sachs Group increased their target price 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. Stephens increased their target price 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 increased their target price 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 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’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $251.83.

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of Trane Technologies stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the sale, the chief executive officer now directly owns 113,874 shares in the company, valued at approximately $32,589,600.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Trane Technologies news, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the sale, the senior vice president now directly owns 42,374 shares in the company, valued at approximately $11,345,214.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David S. Regnery sold 6,990 shares of Trane Technologies stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the sale, the chief executive officer now owns 113,874 shares in the company, valued at $32,589,600.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,874 shares of company stock valued at $8,462,825. 0.39% of the stock is owned by corporate insiders.

Trane Technologies Trading Up 1.0 %

TT opened at $299.41 on Friday. The stock has a market capitalization of $67.99 billion, a P/E ratio of 34.06, a P/E/G ratio of 2.50 and a beta of 1.05. Trane Technologies plc has a 12 month low of $162.04 and a 12 month high of $306.98. The firm’s fifty day simple moving average is $291.57 and its 200 day simple moving average is $253.55. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, February 1st. The company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.13 by $0.04. The business had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.82 EPS. As a group, research analysts anticipate that Trane Technologies plc will post 10.2 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.12%. Trane Technologies’s dividend payout ratio 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.