Nordea Investment Management AB Increases Stock Position in Trane Technologies plc (NYSE:TT)

Nordea Investment Management AB grew its position in Trane Technologies plc (NYSE:TT) by 42.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 978,275 shares of the company’s stock after acquiring an additional 293,916 shares during the period. Nordea Investment Management AB owned about 0.43% of Trane Technologies worth $361,874,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TT. First Citizens Financial Corp increased its stake in shares of Trane Technologies by 4.6% during the fourth quarter. First Citizens Financial Corp now owns 656 shares of the company’s stock worth $242,000 after purchasing an additional 29 shares in the last quarter. GAMMA Investing LLC increased its stake in Trane Technologies by 7.3% during the 4th quarter. GAMMA Investing LLC now owns 5,669 shares of the company’s stock worth $2,094,000 after buying an additional 388 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Trane Technologies by 41.9% during the fourth quarter. Versant Capital Management Inc now owns 606 shares of the company’s stock valued at $224,000 after acquiring an additional 179 shares during the last quarter. Global Wealth Strategies & Associates acquired a new stake in shares of Trane Technologies in the fourth quarter worth approximately $26,000. Finally, Old Port Advisors raised its stake in Trane Technologies by 12.6% in the 4th quarter. Old Port Advisors now owns 713 shares of the company’s stock valued at $263,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 1.9 %

Trane Technologies stock opened at $381.11 on Monday. Trane Technologies plc has a 1-year low of $236.33 and a 1-year high of $422.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The stock’s 50 day moving average price is $396.48 and its 200 day moving average price is $370.12. The company has a market cap of $85.76 billion, a PE ratio of 35.35, a price-to-earnings-growth ratio of 2.38 and a beta of 1.06.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The firm 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 revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.79 earnings per share. On average, sell-side analysts predict that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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

Wall Street Analyst Weigh In

TT has been the topic of several research reports. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Barclays increased their price target on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Robert W. Baird cut their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a report on Thursday, October 31st. Finally, Royal Bank of Canada raised their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and a consensus target price of $413.14.

Insiders Place Their Bets

In other news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the sale, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is currently 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.