Swiss National Bank Has $174.19 Million Holdings in Trane Technologies plc (NYSE:TT)

Swiss National Bank lowered its position in shares of Trane Technologies plc (NYSE:TT) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 714,203 shares of the company’s stock after selling 19,400 shares during the period. Swiss National Bank owned 0.31% of Trane Technologies worth $174,194,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in Trane Technologies by 24,670.7% in the fourth quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after purchasing an additional 1,030,247 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Trane Technologies by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after purchasing an additional 880,583 shares in the last quarter. FMR LLC increased its stake in shares of Trane Technologies by 12.4% in the third quarter. FMR LLC now owns 5,743,154 shares of the company’s stock valued at $1,165,343,000 after buying an additional 632,598 shares during the period. Wellington Management Group LLP raised its holdings in Trane Technologies by 36.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock valued at $332,581,000 after buying an additional 436,997 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd increased its position in Trane Technologies by 31.4% in the 3rd quarter. Alphinity Investment Management Pty Ltd now owns 1,812,549 shares of the company’s stock valued at $367,784,000 after acquiring an additional 433,388 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insider Activity

In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 113,874 shares in the company, valued at $32,589,600.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Keith A. Sultana sold 1,983 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $272.26, for a total value of $539,891.58. Following the completion of the transaction, the senior vice president now directly owns 42,575 shares of the company’s stock, valued at $11,591,469.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David S. Regnery sold 6,990 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the completion of the transaction, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,237 shares of company stock worth $8,024,534. 0.39% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TT shares. Stephens boosted their target price on shares of Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research report on Wednesday. TD Cowen increased their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday. Mizuho upped their price target on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday. Royal Bank of Canada raised their price objective on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Finally, Citigroup boosted their price target on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $300.54.

Trane Technologies Stock Performance

NYSE:TT traded up $2.55 during trading hours on Friday, reaching $319.34. The stock had a trading volume of 1,074,503 shares, compared to its average volume of 1,033,256. The stock has a market cap of $72.28 billion, a P/E ratio of 34.29, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The stock has a 50 day simple moving average of $295.08 and a 200 day simple moving average of $257.16. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.78 and a current ratio of 1.13. Trane Technologies plc has a 12-month low of $162.04 and a 12-month high of $327.09.

Trane Technologies (NYSE:TT) last posted its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The firm had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the prior year, the business posted $1.41 earnings per share. The business’s quarterly revenue was up 15.0% on a year-over-year basis. On average, research analysts forecast that Trane Technologies plc will post 10.47 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s payout ratio is currently 35.90%.

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.