Trane Technologies plc (NYSE:TT) Holdings Cut by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. trimmed its position in shares of Trane Technologies plc (NYSE:TT) by 2.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 73,321 shares of the company’s stock after selling 1,511 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Trane Technologies were worth $17,883,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TT. BKM Wealth Management LLC bought a new stake in Trane Technologies in the fourth quarter worth $25,000. Live Oak Investment Partners bought a new position in shares of Trane Technologies in the 4th quarter valued at approximately $30,000. Venturi Wealth Management LLC lifted its holdings in Trane Technologies by 139.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock worth $31,000 after purchasing an additional 88 shares during the last quarter. 1832 Asset Management L.P. acquired a new position in Trane Technologies during the first quarter valued at approximately $34,000. Finally, Avior Wealth Management LLC lifted its stake in shares of Trane Technologies by 58.0% in the third quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock worth $36,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on TT shares. The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Stephens raised their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Royal Bank of Canada increased their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Citigroup increased their target price on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Barclays lifted their price objective on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $251.83.

Insider Transactions at Trane Technologies

In related news, SVP Keith A. Sultana sold 1,637 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $267.74, for a total transaction of $438,290.38. Following the transaction, the senior vice president now owns 42,374 shares in the company, valued at approximately $11,345,214.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Trane Technologies news, SVP Keith A. Sultana sold 1,637 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the transaction, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at $11,345,214.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Keith A. Sultana sold 1,983 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the transaction, the senior vice president now owns 42,575 shares in the company, valued at $11,591,469.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,874 shares of company stock worth $8,462,825. Insiders own 0.39% of the company’s stock.

Trane Technologies Trading Down 0.9 %

Shares of TT stock opened at $293.09 on Thursday. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $66.55 billion, a P/E ratio of 33.34, a P/E/G ratio of 2.49 and a beta of 1.05. Trane Technologies plc has a 12-month low of $162.04 and a 12-month high of $306.98. The firm has a 50-day moving average price of $289.02 and a 200 day moving average price of $250.01.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. Trane Technologies’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 earnings per share. Research analysts forecast that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s dividend payout ratio is currently 38.23%.

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.