Swedbank AB Sells 73,366 Shares of Trane Technologies plc (NYSE:TT)

Swedbank AB decreased its position in Trane Technologies plc (NYSE:TT) by 9.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 670,428 shares of the company’s stock after selling 73,366 shares during the quarter. Swedbank AB owned approximately 0.30% of Trane Technologies worth $247,623,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TT. Strategic Blueprint LLC bought a new position in shares of Trane Technologies during the fourth quarter valued at $206,000. Smith Group Asset Management LLC increased its stake in Trane Technologies by 235.1% during the 4th quarter. Smith Group Asset Management LLC now owns 2,580 shares of the company’s stock valued at $953,000 after purchasing an additional 1,810 shares in the last quarter. BOCHK Asset Management Ltd purchased a new position in Trane Technologies in the fourth quarter worth about $443,000. R Squared Ltd bought a new position in shares of Trane Technologies in the fourth quarter worth approximately $443,000. Finally, Foster Group Inc. grew its holdings in shares of Trane Technologies by 1.3% during the fourth quarter. Foster Group Inc. now owns 2,800 shares of the company’s stock valued at $1,034,000 after buying an additional 37 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

TT has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price target on Trane Technologies from $390.00 to $387.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Melius Research restated a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research note on Tuesday. Barclays increased their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Robert W. Baird cut their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $417.81.

Insiders Place Their Bets

In other news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the sale, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is owned by insiders.

Trane Technologies Price Performance

Shares of NYSE:TT traded down $0.55 during midday trading on Wednesday, reaching $365.21. 396,024 shares of the company’s stock traded hands, compared to its average volume of 1,339,521. The company has a market cap of $82.18 billion, a P/E ratio of 33.88, a PEG ratio of 2.16 and a beta of 1.06. The company has a fifty day simple moving average of $392.55 and a two-hundred day simple moving average of $376.35. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies plc has a 1 year low of $250.79 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the business earned $2.79 earnings per share. The business’s revenue was up 10.0% compared to the same quarter last year. Equities analysts predict that Trane Technologies plc will post 11.16 EPS for the current fiscal year.

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.