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

Swedbank AB lowered its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 9.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 670,428 shares of the company's stock after selling 73,366 shares during the period. Swedbank AB owned 0.30% of Trane Technologies worth $247,623,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the firm's 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 directly owns 12,893 shares in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.38% of the company's stock.

Trane Technologies Price Performance

TT traded down $3.85 on Friday, hitting $362.47. 1,648,357 shares of the company's stock were exchanged, compared to its average volume of 1,328,193. The firm has a 50-day moving average price of $389.53 and a 200-day moving average price of $376.35. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The stock has a market cap of $81.56 billion, a price-to-earnings ratio of 33.62, a P/E/G ratio of 1.96 and a beta of 1.06. Trane Technologies plc has a fifty-two week low of $250.79 and a fifty-two week high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) 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 12.73% and a return on equity of 34.62%. As a group, equities analysts anticipate that Trane Technologies plc will post 11.16 earnings per share for the current year.

Analysts Set New Price Targets

TT has been the subject of several recent analyst reports. The Goldman Sachs Group raised their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. UBS Group dropped their target price on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a research report on Friday. Barclays raised their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Mizuho boosted their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Finally, Northcoast Research initiated coverage on Trane Technologies in a research note on Friday, November 22nd. They issued a "buy" rating and a $500.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $415.25.

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.