Sumitomo Mitsui Trust Group Inc. Raises Stock Holdings in Trane Technologies plc $TT

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Trane Technologies plc (NYSE:TT) by 0.5% during the third quarter, HoldingsChannel.com reports. The fund owned 574,153 shares of the company’s stock after purchasing an additional 3,080 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Trane Technologies were worth $242,270,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Icon Advisers Inc. Co. purchased a new position in Trane Technologies during the 2nd quarter worth $26,000. Financial Consulate Inc. purchased a new stake in shares of Trane Technologies in the third quarter valued at about $25,000. Ameriflex Group Inc. acquired a new stake in shares of Trane Technologies during the second quarter worth about $28,000. Hantz Financial Services Inc. grew its holdings in shares of Trane Technologies by 1,016.7% during the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after buying an additional 61 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC increased its position in Trane Technologies by 34.2% in the 3rd 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. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TT. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, October 8th. Melius upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective on the stock in a research report on Wednesday, January 7th. Wells Fargo & Company cut their price objective on shares of Trane Technologies from $415.00 to $375.00 and set an “underweight” rating for the company in a research report on Friday, December 19th. KeyCorp raised shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price on the stock in a report on Monday, December 15th. Finally, Bank of America raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $490.00 to $550.00 in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $474.60.

Insider Buying and Selling

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $440.00, for a total value of $264,000.00. Following the sale, the chief accounting officer directly owned 7,148 shares of the company’s stock, valued at $3,145,120. This trade represents a 7.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by insiders.

Trane Technologies Trading Up 0.9%

Trane Technologies stock opened at $385.31 on Tuesday. The stock has a 50-day moving average price of $403.40 and a 200 day moving average price of $418.62. The company has a current ratio of 1.20, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. The stock has a market cap of $85.44 billion, a PE ratio of 29.64, a P/E/G ratio of 1.93 and a beta of 1.21. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18.

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

About Trane Technologies

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.