Sumitomo Mitsui Trust Group Inc. Sells 24,212 Shares of Trane Technologies plc $TT

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Trane Technologies plc (NYSE:TT) by 4.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 505,570 shares of the company’s stock after selling 24,212 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Trane Technologies worth $210,691,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TT. Tucker Asset Management LLC acquired a new stake in Trane Technologies in the 4th quarter valued at about $25,000. JPL Wealth Management LLC bought a new position in shares of Trane Technologies in the third quarter worth about $32,000. Hilton Head Capital Partners LLC acquired a new position in shares of Trane Technologies during the fourth quarter worth approximately $32,000. Physician Wealth Advisors Inc. lifted its position in shares of Trane Technologies by 192.6% during the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock worth $33,000 after purchasing an additional 52 shares in the last quarter. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Sanford C. Bernstein set a $555.00 price objective on shares of Trane Technologies in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Evercore assumed coverage on Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 target price for the company. 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. Finally, Royal Bank Of Canada upped their price target on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Trane Technologies presently has an average rating of “Moderate Buy” and an average price target of $512.50.

Trane Technologies Price Performance

TT opened at $471.96 on Friday. The company has a fifty day moving average price of $470.04 and a two-hundred day moving average price of $443.75. 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 52 week low of $348.06 and a 52 week high of $505.87. The firm has a market capitalization of $104.33 billion, a PE ratio of 36.50, a P/E/G ratio of 2.17 and a beta of 1.19.

Trane Technologies (NYSE:TT) last issued its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter in the previous year, the company posted $2.45 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, analysts anticipate that Trane Technologies plc will post 14.9 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio is currently 32.48%.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider owned 3,819 shares in the company, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

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.