Sumitomo Mitsui Trust Group Inc. Cuts Holdings in Trane Technologies plc (NYSE:TT)

Sumitomo Mitsui Trust Group Inc. lessened its stake in Trane Technologies plc (NYSE:TT - Free Report) by 5.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 541,137 shares of the company's stock after selling 32,436 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Trane Technologies worth $182,320,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Quadrant Capital Group LLC grew its stake in Trane Technologies by 0.8% in the 4th quarter. Quadrant Capital Group LLC now owns 3,786 shares of the company's stock worth $1,398,000 after buying an additional 30 shares in the last quarter. Tortoise Investment Management LLC lifted its holdings in shares of Trane Technologies by 6.5% in the 4th quarter. Tortoise Investment Management LLC now owns 537 shares of the company's stock worth $198,000 after acquiring an additional 33 shares during the last quarter. Foster Group Inc. lifted its holdings in shares of Trane Technologies by 1.2% in the 1st quarter. Foster Group Inc. now owns 2,833 shares of the company's stock worth $954,000 after acquiring an additional 33 shares during the last quarter. Prosperity Consulting Group LLC lifted its holdings in shares of Trane Technologies by 0.6% in the 4th quarter. Prosperity Consulting Group LLC now owns 6,036 shares of the company's stock worth $2,229,000 after acquiring an additional 35 shares during the last quarter. Finally, Trust Co. of Vermont lifted its holdings in shares of Trane Technologies by 35.3% in the 1st quarter. Trust Co. of Vermont now owns 138 shares of the company's stock worth $46,000 after acquiring an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

TT has been the subject of a number of recent research reports. Barclays lowered their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. UBS Group boosted their price objective on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $427.47.

Trane Technologies Stock Up 0.7%

Shares of NYSE TT opened at $432.04 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $437.41. The firm has a market capitalization of $96.35 billion, a PE ratio of 35.94, a price-to-earnings-growth ratio of 2.84 and a beta of 1.16. The firm has a fifty day simple moving average of $410.28 and a two-hundred day simple moving average of $377.77.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same period in the prior year, the business earned $1.94 EPS. The company's revenue for the quarter was up 11.2% on a year-over-year basis. Equities analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.87%. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. This represents a 49.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.38% of the company's stock.

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.

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