Swedbank AB Increases Holdings in Trane Technologies plc $TT

Key Points

• Swedbank AB increased its stake in Trane Technologies plc by 29.2%, holding a total of 866,248 shares, valued at approximately $291.86 million.
• Several analysts have recently raised their price targets for Trane Technologies, with estimates ranging from $450 to $520, reflecting positive sentiment about the company's stock.
• Trane Technologies' CEO, David S. Regnery, sold 22,497 shares, decreasing his ownership by 15.39%, raising concerns among investors about insider selling.

Swedbank AB lifted its position in Trane Technologies plc (NYSE:TT - Free Report) by 29.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 866,248 shares of the company's stock after purchasing an additional 195,820 shares during the period. Swedbank AB owned 0.39% of Trane Technologies worth $291,856,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of TT. WFA Asset Management Corp boosted its holdings in shares of Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after purchasing an additional 50 shares during the period. Vermillion & White Wealth Management Group LLC bought a new position in Trane Technologies in the fourth quarter worth approximately $28,000. Saudi Central Bank bought a new position in Trane Technologies in the first quarter worth approximately $30,000. Opal Wealth Advisors LLC bought a new position in Trane Technologies in the first quarter worth approximately $31,000. Finally, Bogart Wealth LLC raised its stake in Trane Technologies by 97.9% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after buying an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TT. Robert W. Baird boosted their price objective on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Morgan Stanley boosted their price objective on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Barclays boosted their price objective on shares of Trane Technologies from $480.00 to $495.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. The Goldman Sachs Group boosted their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Finally, Hsbc Global Res downgraded shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $458.60.

Trane Technologies Stock Down 0.4%

Shares of TT stock opened at $415.82 on Friday. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The stock's fifty day moving average price is $432.28 and its 200 day moving average price is $399.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. The company has a market cap of $92.52 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 2.60 and a beta of 1.10.

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

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of the business's stock in a transaction 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. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by company insiders.

Trane Technologies 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.

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