Nordea Investment Management AB Purchases 293,916 Shares of Trane Technologies plc (NYSE:TT)

Nordea Investment Management AB boosted its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 42.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 978,275 shares of the company's stock after acquiring an additional 293,916 shares during the quarter. Nordea Investment Management AB owned 0.43% of Trane Technologies worth $361,874,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Trust Point Inc. lifted its holdings in shares of Trane Technologies by 3.1% during the third quarter. Trust Point Inc. now owns 897 shares of the company's stock valued at $349,000 after purchasing an additional 27 shares in the last quarter. Cobblestone Capital Advisors LLC NY boosted its holdings in shares of Trane Technologies by 1.8% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company's stock valued at $579,000 after acquiring an additional 27 shares during the last quarter. First Pacific Financial grew its stake in shares of Trane Technologies by 1.1% in the third quarter. First Pacific Financial now owns 2,674 shares of the company's stock worth $1,039,000 after acquiring an additional 28 shares during the period. Wescott Financial Advisory Group LLC raised its holdings in shares of Trane Technologies by 1.7% during the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company's stock valued at $670,000 after purchasing an additional 28 shares during the last quarter. Finally, Greenleaf Trust lifted its position in Trane Technologies by 0.5% during the third quarter. Greenleaf Trust now owns 5,852 shares of the company's stock valued at $2,275,000 after purchasing an additional 29 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 0.6 %

Shares of NYSE TT traded up $2.12 during trading hours on Monday, hitting $383.23. 1,411,399 shares of the company traded hands, compared to its average volume of 1,446,499. The stock has a market capitalization of $86.24 billion, a price-to-earnings ratio of 35.55, a price-to-earnings-growth ratio of 2.38 and a beta of 1.06. The company's 50 day moving average price is $396.48 and its 200 day moving average price is $370.12. Trane Technologies plc has a 12 month low of $239.03 and a 12 month high of $422.00. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT - Get Free Report) last issued its 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 net margin of 12.73% and a return on equity of 34.62%. The firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period in the previous year, the firm earned $2.79 earnings per share. The business's revenue was up 10.0% on a year-over-year basis. On average, equities research analysts anticipate that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Friday, December 6th. Trane Technologies's dividend payout ratio is presently 31.17%.

Analyst Ratings Changes

TT has been the subject of a number of research reports. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the company an "underweight" rating in a research note on Monday, October 7th. Robert W. Baird reduced their price objective on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st. The Goldman Sachs Group raised their target price on Trane Technologies from $364.00 to $407.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. UBS Group started coverage on shares of Trane Technologies in a research report on Wednesday, November 13th. They set a "buy" rating and a $500.00 price target for the company. Finally, HSBC downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 price objective on the stock. in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $413.14.

Insiders Place Their Bets

In related news, SVP Mairead Magner sold 4,329 shares of the company'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 sale, the senior vice president now directly owns 12,893 shares of the company's stock, valued at $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by company insiders.

About Trane Technologies

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.