Sumitomo Mitsui Trust Group Inc. Sells 11,756 Shares of Trane Technologies plc $TT

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 493,278 shares of the company's stock after selling 11,756 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of Trane Technologies worth $222,952,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Trane Technologies during the 3rd quarter valued at $36,712,000. Vise Technologies Inc. increased its stake in shares of Trane Technologies by 9.1% in the 3rd quarter. Vise Technologies Inc. now owns 10,297 shares of the company's stock worth $4,654,000 after acquiring an additional 856 shares in the last quarter. Cidel Asset Management Inc. lifted its position in Trane Technologies by 7.0% during the 3rd quarter. Cidel Asset Management Inc. now owns 677 shares of the company's stock valued at $306,000 after acquiring an additional 44 shares during the period. Invera Wealth Advisors LLC lifted its position in Trane Technologies by 2.0% during the 3rd quarter. Invera Wealth Advisors LLC now owns 6,338 shares of the company's stock valued at $2,865,000 after acquiring an additional 122 shares during the period. Finally, Americana Partners LLC boosted its stake in Trane Technologies by 17.7% during the third quarter. Americana Partners LLC now owns 3,576 shares of the company's stock worth $1,616,000 after acquiring an additional 538 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Insider Activity at Trane Technologies

In related news, CEO David Regnery sold 48,091 shares of the firm's stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total value of $23,083,680.00. Following the transaction, the chief executive officer owned 96,951 shares of the company's stock, 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 accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company's stock.

Trane Technologies Trading Up 0.1%

Shares of TT stock opened at $410.30 on Monday. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $505.87. The firm has a fifty day moving average price of $450.58 and a 200-day moving average price of $453.99. 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 cap of $89.81 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 1.92 and a beta of 1.19.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The company reported $4.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.74 by $0.12. Trane Technologies had a return on equity of 37.26% and a net margin of 13.56%. The business had revenue of $6.76 billion during the quarter, compared to analyst estimates of $6.50 billion. During the same quarter in the prior year, the business posted $3.88 EPS. Trane Technologies's revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, equities analysts predict that Trane Technologies plc will post 15.28 earnings per share for the current year.

Trane Technologies Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TT shares. Deutsche Bank Aktiengesellschaft reduced their price objective on Trane Technologies from $515.00 to $499.00 and set a "hold" rating for the company in a research report on Wednesday, September 30th. Robert W. Baird boosted their target price on Trane Technologies from $515.00 to $532.00 and gave the stock a "neutral" rating in a report on Thursday, July 23rd. Oppenheimer reissued an "outperform" rating and issued a $500.00 target price on shares of Trane Technologies in a research note on Friday. Weiss Ratings upgraded Trane Technologies from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, September 10th. Finally, Citigroup lowered their price target on Trane Technologies from $570.00 to $566.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Trane Technologies currently has an average rating of "Moderate Buy" and an average price target of $536.79.

Key Stories Impacting 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

Trane Technologies Company Profile

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.

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