Trane Technologies plc (NYSE:TT) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in Trane Technologies plc (NYSE:TT) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 580,145 shares of the company’s stock after selling 9,496 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.25% of Trane Technologies worth $141,497,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TT. BKM Wealth Management LLC acquired a new stake in shares of Trane Technologies during the fourth quarter worth $25,000. Live Oak Investment Partners acquired a new stake in Trane Technologies in the 4th quarter valued at about $30,000. Venturi Wealth Management LLC increased its stake in shares of Trane Technologies by 139.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock worth $31,000 after purchasing an additional 88 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in shares of Trane Technologies in the first quarter worth $34,000. Finally, Avior Wealth Management LLC lifted its holdings in Trane Technologies by 58.0% in the 3rd quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock valued at $36,000 after purchasing an additional 65 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Trane Technologies

In related news, SVP Keith A. Sultana sold 1,637 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the sale, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at $11,345,214.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Keith A. Sultana sold 1,983 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the transaction, the senior vice president now directly owns 42,575 shares in the company, valued at $11,591,469.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total transaction of $438,290.38. Following the completion of the transaction, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,874 shares of company stock valued at $8,462,825. Insiders own 0.39% of the company’s stock.

Trane Technologies Trading Down 1.0 %

Shares of TT opened at $293.88 on Tuesday. Trane Technologies plc has a one year low of $162.04 and a one year high of $306.98. The stock has a 50-day moving average price of $288.12 and a 200 day moving average price of $249.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13. The company has a market capitalization of $66.73 billion, a P/E ratio of 33.43, a P/E/G ratio of 2.51 and a beta of 1.05.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.04. The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.82 earnings per share. Sell-side analysts forecast that Trane Technologies plc will post 10.2 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.14%. Trane Technologies’s dividend payout ratio (DPR) is presently 38.23%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Barclays raised their price objective on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. The Goldman Sachs Group boosted their price objective on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Stephens lifted their target price on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Royal Bank of Canada increased their price target on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Finally, Citigroup boosted their price objective on Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus target price of $251.83.

Trane Technologies 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.