Trane Technologies plc $TT Stock Holdings Lifted by Nordea Investment Management AB

Nordea Investment Management AB increased its position in Trane Technologies plc (NYSE:TT) by 2.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,513,508 shares of the company’s stock after buying an additional 57,774 shares during the period. Trane Technologies accounts for 0.9% of Nordea Investment Management AB’s portfolio, making the stock its 15th largest holding. Nordea Investment Management AB’s holdings in Trane Technologies were worth $1,051,049,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TT. Ethic Inc. raised its stake in shares of Trane Technologies by 6.6% in the second quarter. Ethic Inc. now owns 26,836 shares of the company’s stock valued at $11,601,000 after purchasing an additional 1,672 shares in the last quarter. Triton Financial Group Inc acquired a new stake in shares of Trane Technologies during the 2nd quarter valued at about $1,273,000. Illinois Municipal Retirement Fund grew its stake in shares of Trane Technologies by 2.7% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 28,083 shares of the company’s stock valued at $12,284,000 after purchasing an additional 726 shares during the period. Hibernia Wealth Partners LLC bought a new position in shares of Trane Technologies during the 2nd quarter worth approximately $266,000. Finally, Commonwealth Retirement Investments LLC bought a new stake in Trane Technologies in the second quarter valued at $447,000. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Melius raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a report on Wednesday, January 7th. UBS Group reduced their target price on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Barclays cut their price target on Trane Technologies from $506.00 to $505.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. Bank of America upgraded shares of Trane Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $490.00 to $550.00 in a research report on Thursday, November 13th. Finally, JPMorgan Chase & Co. lifted their target price on Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $474.60.

Insiders Place Their Bets

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the business’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $440.00, for a total value of $264,000.00. Following the completion of the transaction, the chief accounting officer directly owned 7,148 shares of the company’s stock, valued at approximately $3,145,120. The trade was a 7.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $385.31 on Tuesday. The stock has a 50-day moving average of $403.40 and a 200-day moving average of $418.62. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18. The stock has a market cap of $85.44 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 1.93 and a beta of 1.21. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.20 and a quick ratio of 0.84.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.80 by $0.08. Trane Technologies had a net margin of 13.93% and a return on equity of 37.04%. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the firm earned $3.37 earnings per share. The business’s quarterly revenue was up 5.5% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. As a group, sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.