Dai ichi Life Insurance Company Ltd Purchases 6,394 Shares of Trane Technologies plc $TT

Dai ichi Life Insurance Company Ltd grew its position in Trane Technologies plc (NYSE:TT - Free Report) by 57.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,504 shares of the company's stock after buying an additional 6,394 shares during the quarter. Dai ichi Life Insurance Company Ltd's holdings in Trane Technologies were worth $7,295,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TT. Wilkerson Advisory Group LLC raised its position in Trane Technologies by 136.0% during the first quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company's stock valued at $25,000 after purchasing an additional 34 shares in the last quarter. Tucker Asset Management LLC acquired a new stake in shares of Trane Technologies in the 4th quarter valued at $25,000. JPL Wealth Management LLC bought a new position in shares of Trane Technologies in the 3rd quarter valued at $32,000. Physician Wealth Advisors Inc. increased its stake in shares of Trane Technologies by 192.6% in the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares during the last quarter. Finally, Frazier Financial Advisors LLC acquired a new position in shares of Trane Technologies during the 1st quarter worth $33,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TT. Sanford C. Bernstein set a $555.00 price objective on Trane Technologies in a research note on Thursday, July 9th. Citigroup boosted their target price on Trane Technologies from $525.00 to $570.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. KeyCorp increased their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. BNP Paribas Exane started coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They set an "outperform" rating and a $550.00 price target on the stock. Finally, Barclays upped their price objective on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $516.67.

Trane Technologies Trading Up 0.3%

Shares of TT stock opened at $481.09 on Friday. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $505.87. The stock's fifty day simple moving average is $470.13 and its 200 day simple moving average is $449.87. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $106.35 billion, a P/E ratio of 37.21, a P/E/G ratio of 2.21 and a beta of 1.19.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $2.45 earnings per share. As a group, sell-side analysts predict that Trane Technologies plc will post 14.89 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a dividend of $1.05 per share. The ex-dividend date is Friday, September 4th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is currently 32.48%.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the company's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. This represents a 54.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by insiders.

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.

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