APG Asset Management N.V. Raises Stock Holdings in Trane Technologies plc (NYSE:TT)

APG Asset Management N.V. raised its position in shares of Trane Technologies plc (NYSE:TT) by 367.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 152,295 shares of the company’s stock after purchasing an additional 119,729 shares during the quarter. APG Asset Management N.V. owned 0.07% of Trane Technologies worth $54,322,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Advisory Services Network LLC lifted its position in Trane Technologies by 83.2% during the fourth quarter. Advisory Services Network LLC now owns 10,240 shares of the company’s stock valued at $3,782,000 after purchasing an additional 4,650 shares during the period. Abacus FCF Advisors LLC raised its stake in shares of Trane Technologies by 147.0% during the 4th quarter. Abacus FCF Advisors LLC now owns 21,162 shares of the company’s stock valued at $7,816,000 after buying an additional 12,596 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at about $13,396,000. Bank of Nova Scotia boosted its stake in shares of Trane Technologies by 18.9% in the fourth quarter. Bank of Nova Scotia now owns 147,386 shares of the company’s stock worth $54,437,000 after buying an additional 23,416 shares during the last quarter. Finally, Shelton Capital Management grew its holdings in Trane Technologies by 31.1% during the fourth quarter. Shelton Capital Management now owns 35,003 shares of the company’s stock worth $12,928,000 after acquiring an additional 8,305 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the sale, the chief financial officer now owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. The trade was a 1.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the transaction, the senior vice president now owns 13,401 shares of the company’s stock, valued at $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock worth $2,588,102 in the last three months. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TT shares. JPMorgan Chase & Co. dropped their price objective on shares of Trane Technologies from $396.00 to $323.00 and set a “neutral” rating on the stock in a research note on Tuesday. Citigroup dropped their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research report on Tuesday, January 28th. Melius Research restated a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada upped their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $409.13.

Trane Technologies Price Performance

Shares of NYSE TT opened at $314.77 on Wednesday. The firm has a 50-day simple moving average of $348.59 and a 200-day simple moving average of $377.60. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $70.60 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 52 week low of $286.32 and a 52 week high of $422.00.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. On average, equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

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.