Meiji Yasuda Asset Management Co Ltd. Has $1.71 Million Holdings in Trane Technologies plc (NYSE:TT)

Meiji Yasuda Asset Management Co Ltd. grew its holdings in Trane Technologies plc (NYSE:TT) by 12.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,632 shares of the company’s stock after purchasing an additional 521 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Trane Technologies were worth $1,711,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Dynamic Technology Lab Private Ltd boosted its position in Trane Technologies by 2.3% during the third quarter. Dynamic Technology Lab Private Ltd now owns 2,553 shares of the company’s stock valued at $992,000 after purchasing an additional 58 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Trane Technologies by 16.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 487,592 shares of the company’s stock worth $189,542,000 after purchasing an additional 70,408 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Trane Technologies by 23.3% during the 3rd quarter. D.A. Davidson & CO. now owns 8,177 shares of the company’s stock valued at $3,179,000 after buying an additional 1,544 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Trane Technologies in the 3rd quarter valued at approximately $4,467,000. Finally, Avestar Capital LLC increased its holdings in Trane Technologies by 5.5% in the third quarter. Avestar Capital LLC now owns 1,700 shares of the company’s stock worth $661,000 after buying an additional 88 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Evan M. Turtz sold 318 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.12, for a total value of $113,882.16. Following the completion of the transaction, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at approximately $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock worth $2,588,102 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $352.29 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The company has a market cap of $79.01 billion, a PE ratio of 31.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The firm has a fifty day moving average price of $359.83 and a two-hundred day moving average price of $380.06. Trane Technologies plc has a fifty-two week low of $286.32 and a fifty-two week high of $422.00.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.07%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio is presently 33.42%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Melius Research reiterated a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. JPMorgan Chase & Co. raised their target price on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target for the company. in a research note on Tuesday, January 28th. Finally, UBS Group cut their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $413.69.

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.