Mitsubishi UFJ Asset Management Co. Ltd. Has $192.08 Million Stock Holdings in Trane Technologies plc $TT

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Trane Technologies plc (NYSE:TT) by 3.7% in the third quarter, HoldingsChannel reports. The firm owned 455,121 shares of the company’s stock after purchasing an additional 16,044 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Trane Technologies were worth $192,077,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Trane Technologies in the second quarter worth about $1,356,065,000. JPMorgan Chase & Co. raised its holdings in shares of Trane Technologies by 10.2% during the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after acquiring an additional 1,433,563 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Trane Technologies by 229.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock valued at $766,583,000 after acquiring an additional 1,220,388 shares in the last quarter. ABN AMRO Bank N.V. acquired a new position in Trane Technologies in the 2nd quarter worth approximately $291,206,000. Finally, Corient Private Wealth LLC grew its position in Trane Technologies by 135.4% during the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock worth $321,757,000 after purchasing an additional 423,090 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, insider Donald E. Simmons sold 822 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.57, for a total transaction of $380,232.54. Following the transaction, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,766,554.83. This represents a 17.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David S. Regnery sold 5,588 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.60, for a total value of $2,585,008.80. Following the completion of the sale, the chief executive officer owned 96,948 shares of the company’s stock, valued at approximately $44,848,144.80. This trade represents a 5.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,936 shares of company stock valued at $4,133,991 in the last three months. 0.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group reduced their target price on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a report on Monday, January 5th. JPMorgan Chase & Co. upped their price target on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Royal Bank Of Canada increased their price objective on Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. Finally, Bank of America upgraded Trane Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $490.00 to $550.00 in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $484.67.

Trane Technologies Trading Down 0.7%

Shares of NYSE TT opened at $456.65 on Friday. The business has a 50 day simple moving average of $416.24 and a 200 day simple moving average of $416.48. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $479.37. The stock has a market cap of $101.07 billion, a price-to-earnings ratio of 35.18, a PEG ratio of 2.42 and a beta of 1.21. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.61 earnings per share. On average, research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be issued a $1.05 dividend. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, March 6th. Trane Technologies’s dividend payout ratio is currently 28.97%.

About Trane Technologies

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.