Swedbank Sells 29,563 Shares of Trane Technologies plc (NYSE:TT)

Swedbank cut its stake in Trane Technologies plc (NYSE:TT) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,044,458 shares of the company’s stock after selling 29,563 shares during the period. Swedbank’s holdings in Trane Technologies were worth $151,269,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TT. Ninety One SA PTY Ltd grew its position in shares of Trane Technologies by 17.4% during the 3rd quarter. Ninety One SA PTY Ltd now owns 514 shares of the company’s stock worth $63,000 after buying an additional 76 shares during the period. Buckley Wealth Management LLC grew its position in shares of Trane Technologies by 2.7% during the 4th quarter. Buckley Wealth Management LLC now owns 3,090 shares of the company’s stock worth $449,000 after buying an additional 81 shares during the period. International Assets Investment Management LLC grew its position in shares of Trane Technologies by 2.1% during the 4th quarter. International Assets Investment Management LLC now owns 3,961 shares of the company’s stock worth $575,000 after buying an additional 81 shares during the period. Guyasuta Investment Advisors Inc. grew its position in shares of Trane Technologies by 1.6% during the 4th quarter. Guyasuta Investment Advisors Inc. now owns 5,183 shares of the company’s stock worth $752,000 after buying an additional 83 shares during the period. Finally, MAI Capital Management grew its holdings in Trane Technologies by 0.9% during the third quarter. MAI Capital Management now owns 9,785 shares of the company’s stock valued at $1,186,000 after purchasing an additional 87 shares during the period. 79.85% of the stock is owned by institutional investors.

Shares of TT stock opened at $152.89 on Tuesday. The company’s fifty day simple moving average is $149.63 and its 200-day simple moving average is $135.79. The company has a quick ratio of 1.38, a current ratio of 1.67 and a debt-to-equity ratio of 0.70. The firm has a market cap of $36.45 billion, a PE ratio of 40.99, a P/E/G ratio of 2.51 and a beta of 0.95. Trane Technologies plc has a 12 month low of $70.00 and a 12 month high of $156.27.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, February 4th. The company reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.11. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Trane Technologies had a net margin of 6.75% and a return on equity of 18.42%. The business’s quarterly revenue was down .2% on a year-over-year basis. On average, equities analysts predict that Trane Technologies plc will post 4.29 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 31st. Stockholders of record on Friday, March 5th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Thursday, March 4th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.53. Trane Technologies’s payout ratio is currently 33.28%.

In other Trane Technologies news, SVP Keith A. Sultana sold 4,914 shares of the company’s stock in a transaction on Friday, February 5th. The shares were sold at an average price of $150.32, for a total transaction of $738,672.48. Following the sale, the senior vice president now directly owns 16,561 shares of the company’s stock, valued at $2,489,449.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marcia J. Avedon sold 2,737 shares of the company’s stock in a transaction on Tuesday, February 9th. The stock was sold at an average price of $147.16, for a total transaction of $402,776.92. In the last three months, insiders sold 255,766 shares of company stock worth $37,078,183. 0.92% of the stock is currently owned by insiders.

TT has been the subject of a number of analyst reports. Credit Suisse Group boosted their price objective on shares of Trane Technologies from $158.00 to $166.00 and gave the company an “outperform” rating in a report on Monday, February 8th. Barclays boosted their price objective on shares of Trane Technologies from $170.00 to $173.00 and gave the company an “overweight” rating in a report on Monday, February 8th. Morgan Stanley boosted their price objective on shares of Trane Technologies from $150.00 to $168.00 and gave the company an “overweight” rating in a report on Monday, February 8th. Argus upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a report on Friday, November 13th. Finally, Wolfe Research upgraded shares of Trane Technologies from an “underperform” rating to a “peer perform” rating in a report on Tuesday, December 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. Trane Technologies presently has a consensus rating of “Hold” and a consensus price target of $135.72.

Trane Technologies Profile

Trane Technologies plc provides climate control solutions for buildings, homes, and transportation. It offers offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality; industrial refrigeration products; large and light commercial unitary products;motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

Read More: Quiet Period

Want to see what other hedge funds are holding TT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trane Technologies plc (NYSE:TT).

Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

Receive News & Ratings for Trane Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trane Technologies and related companies with MarketBeat.com's FREE daily email newsletter.