Mirae Asset Global Investments Co. Ltd. Makes New $36.71 Million Investment in Trane Technologies plc $TT

Mirae Asset Global Investments Co. Ltd. bought a new stake in Trane Technologies plc (NYSE:TT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 81,224 shares of the company’s stock, valued at approximately $36,712,000.

Other hedge funds have also recently modified their holdings of the company. Amundi grew its stake in Trane Technologies by 47.8% during the 1st quarter. Amundi now owns 2,174,396 shares of the company’s stock valued at $906,158,000 after purchasing an additional 703,018 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Trane Technologies by 10.6% in the first quarter. Janus Henderson Group PLC now owns 1,878,018 shares of the company’s stock valued at $782,707,000 after purchasing an additional 180,537 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Trane Technologies by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,035,241 shares of the company’s stock worth $431,347,000 after purchasing an additional 32,286 shares during the last quarter. Ninety One UK Ltd raised its stake in shares of Trane Technologies by 0.4% in the third quarter. Ninety One UK Ltd now owns 926,668 shares of the company’s stock worth $418,835,000 after purchasing an additional 3,624 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of Trane Technologies by 51.9% during the first quarter. California Public Employees Retirement System now owns 686,691 shares of the company’s stock worth $286,172,000 after purchasing an additional 234,666 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TT shares. Evercore upped their price target on shares of Trane Technologies from $560.00 to $565.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Royal Bank Of Canada lowered their price target on Trane Technologies from $502.00 to $486.00 and set a “sector perform” rating on the stock in a research report on Friday. Sanford C. Bernstein lifted their target price on shares of Trane Technologies from $555.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Trane Technologies from $515.00 to $499.00 and set a “hold” rating for the company in a research note on Wednesday, September 30th. Finally, Wells Fargo & Company assumed coverage on shares of Trane Technologies in a research report on Friday, September 25th. They set an “overweight” rating and a $536.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $536.79.

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David Regnery sold 48,091 shares of the business’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the sale, the chief executive officer directly owned 96,951 shares in the company, valued at approximately $46,536,480. The trade was a 33.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Trane Technologies News Summary

Here are the key news stories impacting Trane Technologies this week:

• Positive Sentiment: Strong HVAC demand and backlog support the outlook. Trane reported third-quarter earnings of $4.86 per share versus the $4.74 consensus, while revenue rose 17.7% year over year to $6.76 billion, exceeding estimates. Commercial HVAC demand helped drive a record $12.5 billion backlog, and management raised its full-year revenue outlook while reaffirming EPS guidance. Trane Technologies’ Q3 Earnings Beat on Strong Commercial HVAC Demand
• Positive Sentiment: Secular market demand remains favorable. Data-center investment, energy-efficiency initiatives and commercial infrastructure spending continue to support demand for Trane’s advanced heating, ventilation and air-conditioning systems. Comfort Systems vs. Trane: Which HVAC Stock Is a Better Buy?
• Neutral Sentiment: Trane also launched the sixth season of its Healthy Spaces podcast, highlighting sustainable technology and innovation. The announcement reinforces the company’s sustainability positioning but is unlikely to materially affect near-term valuation. Trane Technologies Launches Season 6 of the Healthy Spaces Podcast
• Negative Sentiment: Margins and bookings are weighing on sentiment. Supply-chain costs and weaker pricing are pressuring margins despite robust demand, while Oppenheimer characterized results as mixed and pointed to booking deceleration. This raises concerns that strong backlog conversion may not translate into proportional profit growth. Trane Technologies’ Mixed Q3 Results, Booking Deceleration Weigh on Sentiment
• Negative Sentiment: Analyst price targets were reduced. Royal Bank of Canada cut its target from $502 to $486 and kept a “sector perform” rating, while Argus lowered its target from $540 to $500. The revisions signal more limited confidence in near-term upside, even though both targets remain above the current share price. Argus Adjusts Price Target on Trane Technologies

Trane Technologies Stock Up 0.1%

Shares of NYSE TT opened at $410.30 on Monday. The firm has a market cap of $89.81 billion, a P/E ratio of 28.98, a price-to-earnings-growth ratio of 1.92 and a beta of 1.19. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $505.87. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.12. The firm’s 50 day moving average price is $450.58 and its 200 day moving average price is $453.99.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, October 29th. The company reported $4.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.12. The firm had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $6.50 billion. Trane Technologies had a net margin of 13.56% and a return on equity of 37.26%. The company’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.88 EPS. As a group, sell-side analysts anticipate that Trane Technologies plc will post 15.28 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 4th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. Trane Technologies’s dividend payout ratio is presently 29.66%.

Trane Technologies Company Profile

Trane Technologies plc is a global climate technology company that develops solutions for heating, ventilation, air conditioning, refrigeration and building management. Its products and services are designed to improve indoor comfort, energy efficiency and the sustainability of commercial, industrial, residential and institutional buildings.

The company operates through well-known brands including Trane, Thermo King and Frigoblock. Trane provides HVAC equipment, building controls, digital solutions, maintenance and energy services, while Thermo King and Frigoblock offer temperature-control systems for refrigerated transportation.