Mitsubishi UFJ Trust & Banking Corp Increases Position in Trane Technologies plc $TT

Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 127,728 shares of the company's stock after purchasing an additional 2,740 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of Trane Technologies worth $49,712,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. OneAscent Wealth Management LLC increased its position in Trane Technologies by 1.5% during the third quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company's stock worth $686,000 after purchasing an additional 24 shares during the last quarter. Bridgewater Advisors Inc. increased its position in Trane Technologies by 3.7% during the third quarter. Bridgewater Advisors Inc. now owns 670 shares of the company's stock worth $285,000 after purchasing an additional 24 shares during the last quarter. West Family Investments Inc. increased its position in Trane Technologies by 2.3% during the third quarter. West Family Investments Inc. now owns 1,072 shares of the company's stock worth $452,000 after purchasing an additional 24 shares during the last quarter. Cresset Asset Management LLC increased its position in Trane Technologies by 0.3% during the third quarter. Cresset Asset Management LLC now owns 7,012 shares of the company's stock worth $2,959,000 after purchasing an additional 24 shares during the last quarter. Finally, Mather Group LLC. increased its position in Trane Technologies by 2.7% during the third quarter. Mather Group LLC. now owns 966 shares of the company's stock worth $408,000 after purchasing an additional 25 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Price Performance

TT opened at $481.83 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 52-week low of $346.45 and a 52-week high of $493.69. The company has a 50 day moving average of $446.38 and a two-hundred day moving average of $424.50. The company has a market cap of $106.54 billion, a P/E ratio of 37.12, a P/E/G ratio of 2.56 and a beta of 1.21.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the previous year, the firm earned $2.61 earnings per share. Trane Technologies's revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts expect that Trane Technologies plc will post 14.75 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, June 5th. Trane Technologies's payout ratio is presently 32.36%.

Insider Activity

In other news, insider Donald E. Simmons sold 3,762 shares of the business's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the transaction, the insider directly owned 3,819 shares of the company's stock, valued at approximately $1,614,291.30. The trade was a 49.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David S. Regnery sold 36,045 shares of the business's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the transaction, the chief executive officer directly owned 96,948 shares in the company, valued at approximately $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 57,997 shares of company stock valued at $25,107,014. 0.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TT has been the subject of several research analyst reports. KeyCorp upped their price target on shares of Trane Technologies from $500.00 to $525.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 21st. Barclays upped their price target on shares of Trane Technologies from $505.00 to $507.00 and gave the stock an "overweight" rating in a research report on Friday, January 30th. Melius Research 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 research report on Wednesday, January 7th. Citigroup boosted their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Finally, Royal Bank Of Canada boosted their price objective on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a "sector perform" rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Trane Technologies presently has an average rating of "Moderate Buy" and an average price target of $492.94.

About Trane Technologies

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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