Trane Technologies plc $TT Position Trimmed by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management trimmed its Trane Technologies stake by 5.7% in the fourth quarter, leaving it with 57,231 shares valued at about $22.3 million.
• Wall Street sentiment remains constructive: several analysts raised price targets, and the stock now carries a consensus Moderate Buy rating with an average target of $506.56.
• Trane Technologies reported better-than-expected Q1 results, with EPS of $2.63 on revenue of $4.97 billion, and it also announced a quarterly dividend of $1.05 per share.

Resona Asset Management Co. Ltd. decreased its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,231 shares of the company's stock after selling 3,451 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Trane Technologies were worth $22,274,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. OneAscent Wealth Management LLC increased its stake in Trane Technologies by 1.5% during the third quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company's stock valued at $686,000 after purchasing an additional 24 shares during the last quarter. Bridgewater Advisors Inc. grew its position in shares of 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 acquiring an additional 24 shares during the last quarter. West Family Investments Inc. grew its position in shares of 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 acquiring an additional 24 shares during the last quarter. Cresset Asset Management LLC grew its position in shares of 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 acquiring an additional 24 shares during the last quarter. Finally, Bryn Mawr Trust Advisors LLC grew its position in shares of Trane Technologies by 1.2% during the fourth quarter. Bryn Mawr Trust Advisors LLC now owns 2,112 shares of the company's stock worth $822,000 after acquiring an additional 25 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on TT. Barclays upped their price target 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. Oppenheimer upped their price target on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an "outperform" rating in a research report on Friday, January 30th. Weiss Ratings restated a "buy (b)" rating on shares of Trane Technologies in a research report on Monday, April 20th. Citigroup upped their price target on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Finally, BNP Paribas Exane began coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They set an "outperform" rating and a $550.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $506.56.

Insider Activity

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the company's stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the sale, the chief financial officer directly owned 60,576 shares of the company's stock, valued at approximately $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the company's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the sale, the insider directly owned 3,819 shares of the company's stock, valued at $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 53,654 shares of company stock valued at $23,269,523 over the last ninety days. Corporate insiders own 0.14% of the company's stock.

Trane Technologies Price Performance

Shares of NYSE TT opened at $448.04 on Wednesday. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $503.47. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $99.04 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.12 and a beta of 1.25. The firm has a 50-day moving average of $451.15 and a two-hundred day moving average of $429.24.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same period in the prior year, the company earned $2.45 EPS. Trane Technologies's revenue was up 6.0% on a year-over-year basis. Trane Technologies has set its FY 2026 guidance at 14.750-14.950 EPS. As a group, analysts expect that Trane Technologies plc will post 14.9 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies's dividend payout ratio is currently 32.48%.

Trane Technologies 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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