Nordea Investment Management AB Boosts Stock Holdings in Trane Technologies plc (NYSE:TT)

Nordea Investment Management AB grew its stake in shares of Trane Technologies plc (NYSE:TT) by 42.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 978,275 shares of the company’s stock after buying an additional 293,916 shares during the quarter. Nordea Investment Management AB’s holdings in Trane Technologies were worth $361,874,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TT. Global Wealth Strategies & Associates purchased a new stake in Trane Technologies during the 4th quarter worth $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Trane Technologies in the third quarter worth about $27,000. DT Investment Partners LLC acquired a new stake in shares of Trane Technologies in the third quarter valued at about $36,000. Quarry LP bought a new stake in shares of Trane Technologies in the second quarter worth $39,000. Finally, Pittenger & Anderson Inc. bought a new stake in shares of Trane Technologies in the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. UBS Group assumed coverage on Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price on the stock. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research note on Thursday, October 31st. Wells Fargo & Company upped their target price on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Citigroup upped their price target on shares of Trane Technologies from $457.00 to $478.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada boosted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $413.14.

Insider Buying and Selling at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This represents a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 1.9 %

Shares of TT opened at $381.11 on Monday. The business’s 50-day moving average price is $396.48 and its 200 day moving average price is $370.12. 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 capitalization of $85.76 billion, a P/E ratio of 35.35, a P/E/G ratio of 2.38 and a beta of 1.06. Trane Technologies plc has a 1-year low of $236.33 and a 1-year high of $422.00.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the firm posted $2.79 earnings per share. Analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 6th were given a dividend of $0.84 per share. The ex-dividend date was Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. Trane Technologies’s payout ratio is 31.17%.

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.