Resona Asset Management Co. Ltd. Buys New Stake in Trane Technologies plc $TT

Resona Asset Management Co. Ltd. purchased a new position in Trane Technologies plc (NYSE:TT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 66,821 shares of the company’s stock, valued at approximately $29,228,000.

Other institutional investors have also bought and sold shares of the company. Ameriflex Group Inc. bought a new stake in shares of Trane Technologies in the 2nd quarter worth about $28,000. Hantz Financial Services Inc. grew 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. Saudi Central Bank purchased a new position in Trane Technologies in the first quarter worth about $30,000. Bogart Wealth LLC increased its stake in Trane Technologies by 97.9% during the first quarter. Bogart Wealth LLC now owns 93 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the last quarter. Finally, Dagco Inc. purchased a new stake in Trane Technologies during the first quarter valued at approximately $37,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.0%

NYSE:TT opened at $435.97 on Friday. The company has a market cap of $96.67 billion, a price-to-earnings ratio of 34.57, a price-to-earnings-growth ratio of 2.66 and a beta of 1.16. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $418.44 and a 200-day simple moving average of $421.26.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.80 by $0.08. The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.80 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.37 EPS. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. Analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be issued a $0.94 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s payout ratio is presently 28.92%.

Insider Activity at Trane Technologies

In other 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 transaction of $264,000.00. Following the transaction, the chief accounting officer owned 7,148 shares of the company’s stock, valued at approximately $3,145,120. This represents a 7.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David S. Regnery sold 22,497 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total value of $9,223,770.00. Following the transaction, the chief executive officer owned 123,713 shares in the company, valued at approximately $50,722,330. This represents a 15.39% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on TT. Northcoast Research cut Trane Technologies from a “buy” rating to a “neutral” rating in a report on Friday, August 1st. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Barclays boosted their price objective on shares of Trane Technologies from $485.00 to $495.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Morgan Stanley increased their target price on shares of Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Finally, UBS Group lifted their price target on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average target price of $466.50.

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.