Daiwa Securities Group Inc. Trims Stock Position in Trane Technologies plc $TT

Daiwa Securities Group Inc. lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 8.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 96,787 shares of the company’s stock after selling 8,747 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Trane Technologies were worth $37,670,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Fiduciary Family Office LLC raised its position in Trane Technologies by 1.5% in the 4th quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company’s stock valued at $612,000 after purchasing an additional 23 shares during the last quarter. Bridgewater Advisors Inc. increased its stake in Trane Technologies by 3.7% in the third quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock valued at $285,000 after purchasing an additional 24 shares during the period. West Family Investments Inc. raised its holdings in shares of Trane Technologies by 2.3% in the third quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock valued at $452,000 after buying an additional 24 shares during the last quarter. Cresset Asset Management LLC raised its holdings in shares of Trane Technologies by 0.3% in the third quarter. Cresset Asset Management LLC now owns 7,012 shares of the company’s stock valued at $2,959,000 after buying an additional 24 shares during the last quarter. Finally, Bridges Investment Management Inc. raised its holdings in shares of Trane Technologies by 1.6% in the fourth quarter. Bridges Investment Management Inc. now owns 1,542 shares of the company’s stock valued at $600,000 after buying an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.3%

TT stock opened at $464.23 on Friday. Trane Technologies plc has a one year low of $348.06 and a one year high of $503.47. The stock has a market capitalization of $102.62 billion, a PE ratio of 35.90, a price-to-earnings-growth ratio of 2.15 and a beta of 1.20. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The company has a fifty day moving average of $458.41 and a 200-day moving average of $431.16.

Trane Technologies (NYSE:TT) last released its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter last year, the business earned $2.45 EPS. The business’s revenue was up 6.0% on a year-over-year basis. As a group, analysts expect that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies’s dividend payout ratio (DPR) is 32.48%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. BNP Paribas Exane assumed coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price for the company. Barclays upped their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Royal Bank Of Canada upped their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Citigroup upped their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, Evercore assumed coverage on shares of Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $506.56.

Insider Buying and Selling at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the sale, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the transaction, the insider owned 3,819 shares of the company’s stock, valued at $1,909,500. This represents a 54.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by company insiders.

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.