Swedbank AB Has $436.84 Million Position in Trane Technologies plc $TT

Key Points

• Swedbank AB has increased its stake in Trane Technologies plc by 15.3%, acquiring an additional 132,433 shares in the second quarter, bringing its total ownership to approximately 998,681 shares valued at $436.8 million.
• CEO David S. Regnery sold 22,497 shares at an average price of $410.00, reducing his ownership in the company by 15.39%, leaving him with approximately 123,713 shares valued at $50.7 million.
• Trane Technologies' earnings report showed $3.88 earnings per share, exceeding analysts' expectations of $3.79, and demonstrated a 7.6% revenue increase year-over-year.

Swedbank AB boosted its stake in Trane Technologies plc (NYSE:TT - Free Report) by 15.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 998,681 shares of the company's stock after buying an additional 132,433 shares during the quarter. Swedbank AB owned approximately 0.45% of Trane Technologies worth $436,839,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TT. Nuveen LLC purchased a new stake in Trane Technologies in the 1st quarter worth approximately $877,468,000. GAMMA Investing LLC raised its holdings in shares of Trane Technologies by 35,458.2% during the 1st quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock valued at $679,161,000 after purchasing an additional 2,010,123 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Trane Technologies by 245.1% in the 1st quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company's stock valued at $722,493,000 after purchasing an additional 1,522,933 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Trane Technologies by 9.8% in the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock valued at $5,297,235,000 after purchasing an additional 1,408,421 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Trane Technologies by 95.1% in the 1st quarter. AQR Capital Management LLC now owns 885,039 shares of the company's stock valued at $291,727,000 after purchasing an additional 431,495 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Activity at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the sale, the chief executive officer directly owned 123,713 shares of the company's stock, valued at $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by company insiders.

Trane Technologies Price Performance

Trane Technologies stock traded up $4.44 during trading hours on Friday, hitting $406.93. 2,322,884 shares of the stock were exchanged, compared to its average volume of 1,299,819. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. The stock has a market capitalization of $90.55 billion, a P/E ratio of 32.27, a P/E/G ratio of 2.54 and a beta of 1.10. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. The business's 50-day moving average is $428.42 and its two-hundred day moving average is $401.72.

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

Wall Street Analyst Weigh In

TT has been the subject of several analyst reports. Northcoast Research lowered shares of Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. Morgan Stanley lifted their price objective on shares of Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Finally, Citigroup cut their target price on shares of Trane Technologies from $499.00 to $494.00 and set a "buy" rating for the company in a research report on Wednesday. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $457.40.

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.