Ilmarinen Mutual Pension Insurance Co Makes New $9.79 Million Investment in Trane Technologies plc (NYSE:TT)

Ilmarinen Mutual Pension Insurance Co bought a new stake in shares of Trane Technologies plc (NYSE:TT) during the fourth quarter, HoldingsChannel.com reports. The fund bought 26,500 shares of the company’s stock, valued at approximately $9,788,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank bought a new position in Trane Technologies in the 4th quarter worth about $1,117,816,000. Raymond James Financial Inc. bought a new position in Trane Technologies in the fourth quarter worth approximately $611,322,000. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Trane Technologies by 455.2% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock worth $167,977,000 after purchasing an additional 350,277 shares during the period. Nordea Investment Management AB raised its position in Trane Technologies by 42.9% during the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after purchasing an additional 293,916 shares in the last quarter. Finally, Caisse Des Depots ET Consignations purchased a new stake in shares of Trane Technologies in the 4th quarter worth $98,560,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Down 3.9 %

NYSE:TT opened at $318.18 on Friday. The company’s 50 day moving average is $351.63 and its two-hundred day moving average is $378.95. The company has a market cap of $71.36 billion, a PE ratio of 28.28, a P/E/G ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is 33.42%.

Insider Activity at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 770 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the transaction, the chief financial officer now directly owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock worth $2,588,102 over the last quarter. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TT shares. Wells Fargo & Company lowered their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Royal Bank of Canada upped their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Citigroup cut their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. Finally, Melius Research reaffirmed a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $413.69.

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.