Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,924 shares of the company's stock after buying an additional 2,626 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Trane Technologies were worth $29,550,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Garner Asset Management Corp purchased a new position in Trane Technologies in the fourth quarter valued at about $62,000. McIlrath & Eck LLC raised its holdings in shares of Trane Technologies by 120.0% during the 4th quarter. McIlrath & Eck LLC now owns 275 shares of the company's stock valued at $107,000 after buying an additional 150 shares during the period. QRG Capital Management Inc. boosted its holdings in Trane Technologies by 3.1% in the 4th quarter. QRG Capital Management Inc. now owns 55,314 shares of the company's stock worth $21,528,000 after acquiring an additional 1,669 shares during the period. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in Trane Technologies by 12.0% in the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,199 shares of the company's stock valued at $467,000 after purchasing an additional 128 shares during the last quarter. Finally, Varma Mutual Pension Insurance Co grew its stake in Trane Technologies by 5.9% during the 4th quarter. Varma Mutual Pension Insurance Co now owns 46,410 shares of the company's stock valued at $18,063,000 after purchasing an additional 2,599 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.
Analyst Ratings Changes
TT has been the topic of several analyst reports. KeyCorp lifted their price objective on Trane Technologies from $525.00 to $555.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Citigroup lifted their price target on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. JPMorgan Chase & Co. upped their price target on shares of Trane Technologies from $434.00 to $460.00 and gave the company a "neutral" rating in a report on Friday, January 30th. Oppenheimer raised their price objective on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an "outperform" rating in a report on Friday, January 30th. Finally, Royal Bank Of Canada upped their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the company a "sector perform" rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Trane Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $505.56.
Check Out Our Latest Report on Trane Technologies
Trane Technologies Stock Performance
Shares of TT stock opened at $477.35 on Wednesday. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $503.47. The firm has a market capitalization of $105.52 billion, a price-to-earnings ratio of 36.92, a price-to-earnings-growth ratio of 2.26 and a beta of 1.25. The business has a 50 day simple moving average of $447.60 and a 200 day simple moving average of $425.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77.
Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter in the previous year, the business earned $2.45 EPS. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. Trane Technologies has set its FY 2026 guidance at 14.750-14.950 EPS. On average, equities research analysts anticipate that Trane Technologies plc will post 14.85 EPS for the current year.
Trane Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies's dividend payout ratio is presently 32.48%.
Insider Activity at Trane Technologies
In related news, CEO David S. Regnery sold 36,045 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the transaction, the chief executive officer owned 96,948 shares in the company, valued at $40,978,950.12. This represents a 27.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Donald E. Simmons sold 4,593 shares of the firm'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 transaction, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. The trade was a 54.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 62,590 shares of company stock worth $27,403,514. 0.14% of the stock is owned by company insiders.
About Trane Technologies
(
Free Report)
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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