Tokio Marine Asset Management Co. Ltd. Buys 680 Shares of Trane Technologies plc (NYSE:TT)

Tokio Marine Asset Management Co. Ltd. grew its position in shares of Trane Technologies plc (NYSE:TT) by 14.0% in the 4th quarter, HoldingsChannel reports. The firm owned 5,545 shares of the company’s stock after acquiring an additional 680 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Trane Technologies were worth $1,352,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of TT. JPMorgan Chase & Co. increased its stake in Trane Technologies by 5.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after buying an additional 880,583 shares in the last quarter. FMR LLC increased its holdings in Trane Technologies by 12.4% during the third quarter. FMR LLC now owns 5,743,154 shares of the company’s stock valued at $1,165,343,000 after buying an additional 632,598 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Trane Technologies by 2.6% during the third quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock worth $821,952,000 after buying an additional 103,823 shares during the period. Morgan Stanley grew its stake in Trane Technologies by 0.6% during the 3rd quarter. Morgan Stanley now owns 2,797,382 shares of the company’s stock valued at $567,617,000 after acquiring an additional 17,758 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Trane Technologies by 4.3% in the 3rd quarter. Northern Trust Corp now owns 2,522,449 shares of the company’s stock valued at $511,830,000 after purchasing an additional 104,653 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

TT traded up $2.47 on Friday, reaching $301.84. 31,663 shares of the company’s stock were exchanged, compared to its average volume of 987,106. The stock has a market cap of $68.54 billion, a PE ratio of 34.06, a P/E/G ratio of 2.50 and a beta of 1.05. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $306.98. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. The stock’s fifty day moving average price is $291.57 and its 200-day moving average price is $253.55.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. The firm had revenue of $4.42 billion for 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 revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.82 earnings per share. Sell-side analysts expect that Trane Technologies plc will post 10.2 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.11%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 38.23%.

Insiders Place Their Bets

In other news, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was 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 owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Trane Technologies news, SVP Keith A. Sultana sold 1,983 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were 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 of the company’s stock, valued at $11,591,469.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total transaction of $438,290.38. Following the completion of the transaction, the senior vice president now directly owns 42,374 shares in the company, valued at approximately $11,345,214.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,874 shares of company stock worth $8,462,825. 0.39% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on TT shares. Royal Bank of Canada upped their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. The Goldman Sachs Group lifted their price target on shares of Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. Stephens lifted their price target 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. Citigroup raised their price target on Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research report 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 research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $251.83.

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.