Nomura Asset Management Co. Ltd. Lowers Stock Holdings in Trane Technologies plc (NYSE:TT)

Nomura Asset Management Co. Ltd. cut its stake in shares of Trane Technologies plc (NYSE:TT) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,237 shares of the company’s stock after selling 738 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Trane Technologies were worth $16,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in TT. BKM Wealth Management LLC purchased a new stake in Trane Technologies during the fourth quarter valued at about $25,000. Motco bought a new stake in Trane Technologies in the 4th quarter worth $27,000. Sachetta LLC bought a new position in shares of Trane Technologies during the fourth quarter valued at about $27,000. Ancora Advisors LLC purchased a new stake in shares of Trane Technologies during the third quarter worth about $40,000. Finally, Gables Capital Management Inc. grew its stake in shares of Trane Technologies by 68.2% in the fourth quarter. Gables Capital Management Inc. now owns 185 shares of the company’s stock worth $45,000 after purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of TT opened at $337.92 on Monday. The stock has a market cap of $76.49 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 2.69 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13. Trane Technologies plc has a fifty-two week low of $162.04 and a fifty-two week high of $338.09. The firm’s 50-day simple moving average is $309.17 and its two-hundred day simple moving average is $272.55.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The business had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The business’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.41 earnings per share. Analysts anticipate that Trane Technologies plc will post 10.46 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, June 7th. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Analysts Set New Price Targets

TT has been the subject of a number of recent analyst reports. TD Cowen upped their price target on Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group upped their target price on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Citigroup lifted their price target on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Mizuho upped their price objective on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, Stephens lifted their target price on shares of Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $300.54.

Insider Transactions at Trane Technologies

In other news, CEO David S. Regnery sold 6,990 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now owns 113,874 shares in the company, valued at $32,589,600.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Christopher J. Kuehn sold 3,762 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the transaction, the chief financial officer now owns 61,691 shares in the company, valued at $17,673,237.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 6,990 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the transaction, the chief executive officer now owns 113,874 shares in the company, valued at approximately $32,589,600.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,979 shares of company stock worth $6,603,372. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Company 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.