Trane Technologies plc $TT Stock Position Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in Trane Technologies plc (NYSE:TT) by 2.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 493,278 shares of the company’s stock after selling 11,756 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Trane Technologies were worth $222,952,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Toth Financial Advisory Corp increased its holdings in Trane Technologies by 10.6% in the third quarter. Toth Financial Advisory Corp now owns 239 shares of the company’s stock valued at $108,000 after buying an additional 23 shares in the last quarter. ZWJ Investment Counsel Inc. raised its position in shares of Trane Technologies by 1.9% in the third quarter. ZWJ Investment Counsel Inc. now owns 1,257 shares of the company’s stock worth $568,000 after acquiring an additional 23 shares during the period. Cornerstone Planning Group LLC raised its position in shares of Trane Technologies by 14.5% in the first quarter. Cornerstone Planning Group LLC now owns 190 shares of the company’s stock worth $79,000 after acquiring an additional 24 shares during the period. Westfuller Advisors LLC boosted its stake in shares of Trane Technologies by 5.9% during the 1st quarter. Westfuller Advisors LLC now owns 447 shares of the company’s stock worth $186,000 after acquiring an additional 25 shares in the last quarter. Finally, NFSG Corp boosted its stake in shares of Trane Technologies by 4.8% during the 1st quarter. NFSG Corp now owns 546 shares of the company’s stock worth $228,000 after acquiring an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of TT stock opened at $410.30 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 0.79. The company has a market capitalization of $89.81 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 1.92 and a beta of 1.19. The firm’s 50-day moving average is $450.58 and its two-hundred day moving average is $453.99. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $505.87.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, October 29th. The company reported $4.86 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.12. Trane Technologies had a net margin of 13.56% and a return on equity of 37.26%. The firm had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $6.50 billion. During the same quarter last year, the company posted $3.88 EPS. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. Analysts predict that Trane Technologies plc will post 15.28 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 4th will be paid a dividend of $1.05 per share. The ex-dividend date is Friday, December 4th. This represents a $4.20 annualized dividend and a yield of 1.0%. Trane Technologies’s payout ratio is presently 29.66%.

Insider Activity

In related news, CEO David Regnery sold 48,091 shares of the firm’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the transaction, the chief executive officer owned 96,951 shares in the company, valued at $46,536,480. This trade represents a 33.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Trending Headlines about Trane Technologies

Here are the key news stories impacting Trane Technologies this week:

• Positive Sentiment: Strong HVAC demand and backlog support the outlook. Trane reported third-quarter earnings of $4.86 per share versus the $4.74 consensus, while revenue rose 17.7% year over year to $6.76 billion, exceeding estimates. Commercial HVAC demand helped drive a record $12.5 billion backlog, and management raised its full-year revenue outlook while reaffirming EPS guidance. Trane Technologies’ Q3 Earnings Beat on Strong Commercial HVAC Demand
• Positive Sentiment: Secular market demand remains favorable. Data-center investment, energy-efficiency initiatives and commercial infrastructure spending continue to support demand for Trane’s advanced heating, ventilation and air-conditioning systems. Comfort Systems vs. Trane: Which HVAC Stock Is a Better Buy?
• Neutral Sentiment: Trane also launched the sixth season of its Healthy Spaces podcast, highlighting sustainable technology and innovation. The announcement reinforces the company’s sustainability positioning but is unlikely to materially affect near-term valuation. Trane Technologies Launches Season 6 of the Healthy Spaces Podcast
• Negative Sentiment: Margins and bookings are weighing on sentiment. Supply-chain costs and weaker pricing are pressuring margins despite robust demand, while Oppenheimer characterized results as mixed and pointed to booking deceleration. This raises concerns that strong backlog conversion may not translate into proportional profit growth. Trane Technologies’ Mixed Q3 Results, Booking Deceleration Weigh on Sentiment
• Negative Sentiment: Analyst price targets were reduced. Royal Bank of Canada cut its target from $502 to $486 and kept a “sector perform” rating, while Argus lowered its target from $540 to $500. The revisions signal more limited confidence in near-term upside, even though both targets remain above the current share price. Argus Adjusts Price Target on Trane Technologies

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TT shares. Wall Street Zen upgraded Trane Technologies from a “hold” rating to a “buy” rating in a research report on Saturday. Wells Fargo & Company began coverage on Trane Technologies in a research report on Friday, September 25th. They issued an “overweight” rating and a $536.00 price objective for the company. Mizuho upped their target price on Trane Technologies from $475.00 to $485.00 and gave the stock a “neutral” rating in a research note on Thursday, October 15th. Oppenheimer reiterated an “outperform” rating and set a $500.00 target price on shares of Trane Technologies in a research report on Friday. Finally, Argus set a $500.00 price objective on shares of Trane Technologies in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $536.79.

About Trane Technologies

Trane Technologies plc is a global climate technology company that develops solutions for heating, ventilation, air conditioning, refrigeration and building management. Its products and services are designed to improve indoor comfort, energy efficiency and the sustainability of commercial, industrial, residential and institutional buildings.

The company operates through well-known brands including Trane, Thermo King and Frigoblock. Trane provides HVAC equipment, building controls, digital solutions, maintenance and energy services, while Thermo King and Frigoblock offer temperature-control systems for refrigerated transportation.