Swedbank AB Has $436.84 Million Stock Holdings in Trane Technologies plc $TT

Swedbank AB grew its position in shares of Trane Technologies plc (NYSE:TT) by 15.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 998,681 shares of the company’s stock after buying an additional 132,433 shares during the period. Swedbank AB’s holdings in Trane Technologies were worth $436,839,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Trane Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company’s stock valued at $6,555,377,000 after acquiring an additional 221,206 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Trane Technologies by 9.8% in the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock worth $5,297,235,000 after purchasing an additional 1,408,421 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Trane Technologies by 7.2% in the first quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company’s stock valued at $1,208,044,000 after purchasing an additional 241,910 shares in the last quarter. Nuveen LLC purchased a new position in shares of Trane Technologies during the first quarter valued at approximately $877,468,000. Finally, Northern Trust Corp grew its holdings in Trane Technologies by 0.7% during the first quarter. Northern Trust Corp now owns 2,584,819 shares of the company’s stock worth $870,877,000 after buying an additional 17,292 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. UBS Group upped their price objective on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Wells Fargo & Company increased their price target on Trane Technologies from $370.00 to $410.00 and gave the company an “underweight” rating in a research report on Tuesday, July 1st. The Goldman Sachs Group raised their target price on Trane Technologies from $416.00 to $460.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Finally, Northcoast Research downgraded shares of Trane Technologies from a “buy” rating to a “neutral” rating in a report on Friday, August 1st. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $457.40.

Trane Technologies Stock Down 0.3%

TT opened at $398.66 on Thursday. The company has a 50 day moving average of $429.66 and a 200 day moving average of $400.51. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. The company has a market cap of $88.71 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 2.49 and a beta of 1.10.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.09. The firm had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The company’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 22,497 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total value of $9,223,770.00. Following the completion of the transaction, the chief executive officer directly owned 123,713 shares in the company, valued at approximately $50,722,330. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by corporate 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.