Mitsubishi UFJ Trust & Banking Corp Trims Stake in Trane Technologies plc $TT

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 4.7% in the second quarter, HoldingsChannel.com reports. The firm owned 144,450 shares of the company’s stock after selling 7,064 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Trane Technologies were worth $63,184,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Trane Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company’s stock valued at $6,555,377,000 after acquiring an additional 221,206 shares during the last quarter. JPMorgan Chase & Co. boosted its position 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 worth $5,297,235,000 after purchasing an additional 1,408,421 shares during the period. Ameriprise Financial Inc. increased its holdings in Trane Technologies by 7.2% in the 1st quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company’s stock valued at $1,208,044,000 after purchasing an additional 241,910 shares during the last quarter. Nuveen LLC acquired a new position in Trane Technologies during the first quarter worth $877,468,000. Finally, Northern Trust Corp boosted its position in shares of Trane Technologies by 0.7% during the first quarter. Northern Trust Corp now owns 2,584,819 shares of the company’s stock worth $870,877,000 after buying an additional 17,292 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Trane Technologies

In related news, 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 completion of the transaction, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Elizabeth A. Elwell sold 600 shares of Trane Technologies stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 7,148 shares in the company, valued at $3,145,120. This represents a 7.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.14% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT opened at $422.11 on Thursday. The business’s 50-day moving average price is $419.67 and its 200 day moving average price is $424.40. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The firm has a market cap of $93.60 billion, a P/E ratio of 33.47, a P/E/G ratio of 2.66 and a beta of 1.16. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18.

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

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s payout ratio is presently 28.92%.

Analyst Ratings Changes

TT has been the topic of several research reports. 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. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and increased their target price for the company from $415.00 to $460.00 in a report on Thursday, July 31st. Royal Bank Of Canada increased their price objective on Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a report on Friday, October 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, October 8th. Finally, Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $466.50.

About Trane Technologies

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.