Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Holdings in Trane Technologies plc $TT

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Trane Technologies plc (NYSE:TT) by 22.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 73,298 shares of the company’s stock after buying an additional 13,442 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Trane Technologies were worth $30,929,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Consulate Inc. purchased a new position in shares of Trane Technologies during the 3rd quarter worth about $25,000. Icon Advisers Inc. Co. acquired a new position in Trane Technologies during the second quarter worth approximately $26,000. Ameriflex Group Inc. acquired a new position in Trane Technologies during the second quarter worth approximately $28,000. Hantz Financial Services Inc. raised its stake in Trane Technologies by 1,016.7% during the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after purchasing an additional 61 shares during the period. Finally, Halbert Hargrove Global Advisors LLC boosted its holdings in shares of Trane Technologies by 34.2% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after purchasing an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $440.00, for a total value of $264,000.00. Following the completion of the transaction, the chief accounting officer directly owned 7,148 shares of the company’s stock, valued at $3,145,120. This represents a 7.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by insiders.

Trane Technologies Stock Performance

Trane Technologies stock opened at $381.74 on Friday. The firm has a market capitalization of $84.65 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 1.92 and a beta of 1.21. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18. The stock’s 50 day moving average price is $404.62 and its 200 day moving average price is $419.07. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.20.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.08. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.80 billion. Trane Technologies had a net margin of 13.93% and a return on equity of 37.04%. Trane Technologies’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $3.37 earnings per share. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. As a group, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. KeyCorp raised Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price on the stock in a research report on Monday, December 15th. Citigroup raised their price objective on Trane Technologies from $494.00 to $513.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $490.00 to $550.00 in a research note on Thursday, November 13th. Melius raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price for the company in a research report on Wednesday. Finally, UBS Group reduced their price target on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Trane Technologies has a consensus rating of “Moderate Buy” and an average price target of $474.60.

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.