Trane Technologies plc (NYSE:TT) Stock Position Decreased by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. cut its position in shares of Trane Technologies plc (NYSE:TT) by 3.8% in the fourth quarter, Holdings Channel reports. The firm owned 15,581 shares of the company’s stock after selling 617 shares during the period. Sumitomo Life Insurance Co.’s holdings in Trane Technologies were worth $3,800,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. BKM Wealth Management LLC bought a new position in shares of Trane Technologies in the 4th quarter valued at approximately $25,000. Venturi Wealth Management LLC grew its holdings in Trane Technologies by 139.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock valued at $31,000 after buying an additional 88 shares during the last quarter. Live Oak Investment Partners acquired a new stake in Trane Technologies in the 4th quarter valued at approximately $30,000. Avior Wealth Management LLC grew 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 buying an additional 65 shares during the last quarter. Finally, Rosenberg Matthew Hamilton grew its holdings in Trane Technologies by 27.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after buying an additional 41 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 3,762 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 61,691 shares in the company, valued at $17,673,237.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David S. Regnery sold 6,990 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 113,874 shares in the company, valued at $32,589,600.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,874 shares of company stock worth $8,462,825. 0.39% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TT shares. Wells Fargo & Company lifted their price objective on Trane Technologies from $200.00 to $246.00 and gave the stock an “underweight” rating in a report on Tuesday, December 19th. Royal Bank of Canada increased their price target on Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Citigroup raised their target price on Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a report on Monday, April 8th. Barclays lifted their target price on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $251.83.

Trane Technologies Stock Down 0.1 %

TT traded down $0.28 during trading on Friday, hitting $296.96. 996,306 shares of the company’s stock were exchanged, compared to its average volume of 786,448. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average is $287.68 and its two-hundred day moving average is $248.09. Trane Technologies plc has a fifty-two week low of $162.04 and a fifty-two week high of $306.98. The stock has a market cap of $67.43 billion, a P/E ratio of 33.78, a PEG ratio of 2.51 and a beta of 1.05.

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

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.84 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.13%. Trane Technologies’s payout ratio is currently 38.23%.

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.