Swedbank AB Trims Stock Position in Trane Technologies plc (NYSE:TT)

Swedbank AB lowered its stake in Trane Technologies plc (NYSE:TT) by 9.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 670,428 shares of the company’s stock after selling 73,366 shares during the quarter. Swedbank AB’s holdings in Trane Technologies were worth $247,623,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC increased its position in Trane Technologies by 35,914.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after purchasing an additional 1,640,569 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Trane Technologies by 35.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after acquiring an additional 671,691 shares during the period. FMR LLC lifted its stake in shares of Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after purchasing an additional 397,537 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Trane Technologies by 42.9% in 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 during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Trane Technologies by 76.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 417,193 shares of the company’s stock valued at $162,175,000 after purchasing an additional 181,335 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

TT stock traded down $0.55 on Wednesday, reaching $365.21. 396,024 shares of the company were exchanged, compared to its average volume of 1,339,521. The firm has a market capitalization of $82.18 billion, a PE ratio of 33.88, a PEG ratio of 2.16 and a beta of 1.06. Trane Technologies plc has a 12 month low of $250.79 and a 12 month high of $422.00. The stock’s fifty day moving average price is $392.55 and its 200 day moving average price is $376.35. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.79 earnings per share. On average, research analysts anticipate that Trane Technologies plc will post 11.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the transaction, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. The Goldman Sachs Group increased their price target on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Robert W. Baird dropped their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Citigroup lowered their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Mizuho upped their target price on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, UBS Group started coverage on shares of Trane Technologies in a research report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price target for the company. One 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’s stock. Based on data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $417.81.

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.