Trane Technologies plc (NYSE:TT) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in Trane Technologies plc (NYSE:TT) by 0.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 579,789 shares of the company’s stock after selling 356 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.26% of Trane Technologies worth $174,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of TT. GSA Capital Partners LLP purchased a new stake in shares of Trane Technologies in the fourth quarter worth about $3,086,000. Wellington Management Group LLP increased its holdings in shares of Trane Technologies by 36.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock valued at $332,581,000 after purchasing an additional 436,997 shares in the last quarter. Capital World Investors lifted its stake in shares of Trane Technologies by 0.6% in the 4th quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock valued at $530,870,000 after purchasing an additional 11,930 shares during the period. Stifel Financial Corp grew its position in Trane Technologies by 26.8% during the fourth quarter. Stifel Financial Corp now owns 99,611 shares of the company’s stock valued at $24,295,000 after buying an additional 21,040 shares during the period. Finally, Schroder Investment Management Group raised its position in shares of Trane Technologies by 11.9% in the fourth quarter. Schroder Investment Management Group now owns 322,994 shares of the company’s stock worth $78,778,000 after acquiring an additional 34,243 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 1.4 %

Trane Technologies stock traded up $4.45 during mid-day trading on Wednesday, hitting $329.28. The company’s stock had a trading volume of 122,156 shares, compared to its average volume of 1,087,282. The stock’s fifty day moving average is $326.45 and its two-hundred day moving average is $291.61. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $74.53 billion, a PE ratio of 34.70, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01. Trane Technologies plc has a 1 year low of $184.02 and a 1 year high of $345.46.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The firm had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period last year, the company earned $1.41 EPS. The company’s quarterly revenue was up 15.0% on a year-over-year basis. On average, analysts anticipate that Trane Technologies plc will post 10.48 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Friday, September 6th. Trane Technologies’s payout ratio is 35.90%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TT. Robert W. Baird upped their price target on Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. TD Cowen increased their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Barclays upped their price target on shares of Trane Technologies from $354.00 to $380.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. Finally, Stephens lifted their price objective on Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $309.79.

Insiders Place Their Bets

In related news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the sale, the senior vice president now owns 20,758 shares in the company, valued at approximately $6,669,545.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the transaction, the chief financial officer now owns 61,293 shares in the company, valued at $19,532,240.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the sale, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Trane Technologies Company 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.