Trane Technologies plc (NYSE:TT) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,921 shares of the company's stock after acquiring an additional 1,785 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Trane Technologies were worth $20,862,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of TT. WFA Asset Management Corp increased its position in shares of Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after buying an additional 50 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new stake in Trane Technologies in the 4th quarter valued at $26,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Trane Technologies in the 4th quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new position in Trane Technologies during the first quarter worth $31,000. Finally, Tradewinds Capital Management LLC lifted its holdings in Trane Technologies by 46.2% during the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock valued at $32,000 after purchasing an additional 30 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Up 1.2%

TT stock opened at $437.55 on Tuesday. Trane Technologies plc has a one year low of $298.15 and a one year high of $438.15. The firm has a market cap of $97.58 billion, a PE ratio of 36.40, a PEG ratio of 2.84 and a beta of 1.16. The firm's 50 day moving average price is $412.59 and its 200-day moving average price is $377.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09.

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

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $0.94 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.86%. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TT. Wells Fargo & Company upped their price target on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. Robert W. Baird raised their target price on Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and raised their price objective for the company from $405.00 to $415.00 in a report on Friday, April 25th. Finally, Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $427.47.

Insider Transactions at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of the business's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the sale, the insider owned 3,593 shares in the company, valued at approximately $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by insiders.

About Trane Technologies

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.