Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Holdings in Trane Technologies plc $TT

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Trane Technologies plc (NYSE:TT) by 22.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,298 shares of the company’s stock after purchasing an additional 13,442 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Trane Technologies were worth $30,929,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Icon Advisers Inc. Co. purchased a new position in Trane Technologies during the second quarter worth about $26,000. Financial Consulate Inc. purchased a new stake in shares of Trane Technologies in the third quarter valued at approximately $25,000. Ameriflex Group Inc. acquired a new position in Trane Technologies during the second quarter worth $28,000. Hantz Financial Services Inc. raised its position in Trane Technologies by 1,016.7% in the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after acquiring an additional 61 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC lifted its holdings in Trane Technologies by 34.2% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after acquiring an additional 26 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In other news, CAO Elizabeth A. Elwell sold 600 shares of the business’s 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 transaction, the chief accounting officer owned 7,148 shares of the company’s stock, valued at $3,145,120. The trade was a 7.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TT has been the topic of a number of recent analyst reports. Melius Research raised shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Wells Fargo & Company dropped their price objective on Trane Technologies from $415.00 to $375.00 and set an “underweight” rating for the company in a research note on Friday, December 19th. KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price on the stock in a research report on Monday, December 15th. Royal Bank Of Canada raised their price target on Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a research report on Friday, October 31st. Finally, UBS Group decreased their price objective on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Trane Technologies presently has an average rating of “Moderate Buy” and an average target price of $474.60.

Trane Technologies Stock Performance

NYSE TT opened at $381.74 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.20 and a debt-to-equity ratio of 0.47. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The business has a fifty day moving average of $404.62 and a 200-day moving average of $419.07. The stock has a market cap of $84.65 billion, a price-to-earnings ratio of 29.36, a price-to-earnings-growth ratio of 1.92 and a beta of 1.21.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, October 30th. The company reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.08. The firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.80 billion. Trane Technologies had a return on equity of 37.04% and a net margin of 13.93%.The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.37 EPS. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. As a group, analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.