Mn Services Vermogensbeheer B.V. Has $34.04 Million Stake in Trane Technologies plc (NYSE:TT)

Mn Services Vermogensbeheer B.V. reduced its stake in Trane Technologies plc (NYSE:TT) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,573 shares of the company’s stock after selling 2,400 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Trane Technologies were worth $34,042,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. World Equity Group Inc. acquired a new stake in shares of Trane Technologies during the 3rd quarter worth $230,000. TKG Advisors LLC grew its stake in Trane Technologies by 3.7% during the third quarter. TKG Advisors LLC now owns 13,018 shares of the company’s stock worth $5,060,000 after buying an additional 464 shares in the last quarter. QRG Capital Management Inc. increased its holdings in Trane Technologies by 10.0% in the 3rd quarter. QRG Capital Management Inc. now owns 43,406 shares of the company’s stock valued at $16,873,000 after buying an additional 3,931 shares during the period. National Pension Service raised its position in shares of Trane Technologies by 12.4% in the 3rd quarter. National Pension Service now owns 598,134 shares of the company’s stock valued at $232,513,000 after buying an additional 66,167 shares in the last quarter. Finally, Old North State Wealth Management LLC lifted its position in shares of Trane Technologies by 15.1% during the 3rd quarter. Old North State Wealth Management LLC now owns 1,111 shares of the company’s stock worth $433,000 after buying an additional 146 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Royal Bank of Canada boosted their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Robert W. Baird lowered their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday. The Goldman Sachs Group lifted their price objective on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley began coverage on shares of Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $380.15.

Trane Technologies Stock Up 0.4 %

NYSE TT traded up $1.46 on Monday, hitting $377.61. 161,900 shares of the company were exchanged, compared to its average volume of 1,102,154. The company has a current ratio of 1.22, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. The company has a market cap of $84.97 billion, a PE ratio of 34.89, a PEG ratio of 2.51 and a beta of 1.02. The stock has a fifty day moving average of $377.83 and a 200-day moving average of $346.08. Trane Technologies plc has a 12 month low of $214.35 and a 12 month high of $406.96.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the prior year, the company earned $2.79 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, analysts forecast that Trane Technologies plc will post 11.06 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is presently 31.17%.

Insider Buying and Selling

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Company 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.