Nomura Asset Management Co. Ltd. Cuts Holdings in Trane Technologies plc $TT

Nomura Asset Management Co. Ltd. decreased its position in shares of Trane Technologies plc (NYSE:TT) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,671 shares of the company’s stock after selling 1,371 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Trane Technologies were worth $28,673,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Tucker Asset Management LLC purchased a new position in Trane Technologies in the fourth quarter worth about $25,000. United Community Bank grew its position in Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after acquiring an additional 43 shares in the last quarter. JPL Wealth Management LLC purchased a new position in Trane Technologies in the third quarter worth about $32,000. Creative Financial Designs Inc. ADV grew its position in Trane Technologies by 119.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock worth $35,000 after acquiring an additional 49 shares in the last quarter. Finally, KERR FINANCIAL PLANNING Corp purchased a new position in Trane Technologies in the third quarter worth about $42,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Trane Technologies stock opened at $448.60 on Tuesday. The company has a 50 day moving average price of $455.94 and a 200-day moving average price of $430.21. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47. The company has a market capitalization of $99.17 billion, a PE ratio of 34.69, a P/E/G ratio of 2.08 and a beta of 1.25.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.45 earnings per share. As a group, equities analysts forecast that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s payout ratio is 32.48%.

Insider Buying and Selling at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the transaction, the chief financial officer owned 60,576 shares of the company’s stock, valued at $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David S. Regnery sold 36,045 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the transaction, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at $40,978,950.12. This trade represents a 27.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 53,654 shares of company stock worth $23,269,523. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TT has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Citigroup lifted their price target on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Royal Bank Of Canada lifted their price target on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. KeyCorp boosted their target price on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, BNP Paribas Exane initiated coverage on Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $506.56.

Trane Technologies Profile

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.