66,821 Shares in Trane Technologies plc $TT Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new position in Trane Technologies plc (NYSE:TT) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 66,821 shares of the company’s stock, valued at approximately $29,228,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Nuveen LLC bought a new position in Trane Technologies during the first quarter valued at approximately $877,468,000. Wellington Management Group LLP raised its stake in Trane Technologies by 245.1% during the 1st quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company’s stock valued at $722,493,000 after buying an additional 1,522,933 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Trane Technologies by 9.8% during the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock valued at $5,297,235,000 after buying an additional 1,408,421 shares during the period. Nordea Investment Management AB boosted its stake in shares of Trane Technologies by 89.1% in the 2nd quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock worth $1,066,845,000 after buying an additional 1,157,405 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Trane Technologies by 95.1% in the first quarter. AQR Capital Management LLC now owns 885,039 shares of the company’s stock worth $291,727,000 after acquiring an additional 431,495 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.0%

Shares of Trane Technologies stock opened at $435.97 on Friday. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. The company has a market capitalization of $96.67 billion, a P/E ratio of 34.57, a P/E/G ratio of 2.66 and a beta of 1.16. The company has a fifty day moving average of $418.44 and a 200 day moving average of $421.26.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, October 30th. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.80 by $0.08. The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.80 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $3.37 earnings per share. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. On average, sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s dividend payout ratio (DPR) is 28.92%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Wells Fargo & Company increased their price target on shares of Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a research report on Monday, October 6th. Robert W. Baird lifted their price target on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, October 8th. Finally, HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and lifted their target price for the company from $415.00 to $460.00 in a research report on Thursday, July 31st. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $466.50.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total value of $264,000.00. Following the sale, the chief accounting officer owned 7,148 shares in the company, valued at $3,145,120. The trade was a 7.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Regnery sold 22,497 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the transaction, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at $50,722,330. This trade represents a 15.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is currently owned by insiders.

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.