Dai ichi Life Insurance Company Ltd Has $7.29 Million Stock Position in Trane Technologies plc $TT

Dai ichi Life Insurance Company Ltd boosted its stake in Trane Technologies plc (NYSE:TT) by 57.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 17,504 shares of the company’s stock after acquiring an additional 6,394 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Trane Technologies were worth $7,295,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after purchasing an additional 2,323 shares during the period. Sivia Capital Partners LLC increased its position in shares of Trane Technologies by 22.4% during the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after buying an additional 305 shares during the period. Schnieders Capital Management LLC. bought a new position in Trane Technologies during the second quarter worth $227,000. Nebula Research & Development LLC raised its stake in Trane Technologies by 178.0% during the second quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock worth $1,037,000 after buying an additional 1,518 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Trane Technologies by 0.5% in the second quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock valued at $45,552,000 after buying an additional 497 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares in the company, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Trane Technologies Trading Up 0.3%

TT opened at $481.09 on Friday. The company has a fifty day moving average price of $470.13 and a two-hundred day moving average price of $449.87. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $505.87. The company has a market cap of $106.35 billion, a P/E ratio of 37.21, a price-to-earnings-growth ratio of 2.21 and a beta of 1.19. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The company had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.45 EPS. Analysts predict that Trane Technologies plc will post 14.89 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be issued a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio is presently 32.48%.

Analyst Upgrades and Downgrades

TT has been the subject of a number of recent analyst reports. Sanford C. Bernstein set a $555.00 price target on Trane Technologies in a report on Thursday, July 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Friday, July 17th. BNP Paribas Exane started coverage on Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price on the stock. Evercore started coverage on Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 target price for the company. Finally, Royal Bank Of Canada boosted their price target on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $516.67.

Trane Technologies Company 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.