Daiwa Securities Group Inc. Cuts Stock Holdings in Trane Technologies plc (NYSE:TT)

Daiwa Securities Group Inc. cut its stake in Trane Technologies plc (NYSE:TT) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,321 shares of the company’s stock after selling 1,511 shares during the period. Daiwa Securities Group Inc.’s holdings in Trane Technologies were worth $17,883,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantum Private Wealth LLC acquired a new stake in shares of Trane Technologies in the 4th quarter valued at $220,000. Scissortail Wealth Management LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth about $325,000. Avior Wealth Management LLC increased its holdings in shares of Trane Technologies by 369.5% in the 4th quarter. Avior Wealth Management LLC now owns 831 shares of the company’s stock valued at $203,000 after acquiring an additional 654 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Trane Technologies by 60.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock worth $27,375,000 after acquiring an additional 42,409 shares in the last quarter. Finally, Everence Capital Management Inc. boosted its holdings in Trane Technologies by 17.0% in the fourth quarter. Everence Capital Management Inc. now owns 20,980 shares of the company’s stock valued at $5,117,000 after purchasing an additional 3,050 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

NYSE:TT opened at $293.09 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. The firm has a market cap of $66.55 billion, a price-to-earnings ratio of 33.34, a price-to-earnings-growth ratio of 2.49 and a beta of 1.05. The firm’s fifty day moving average price is $289.02 and its 200 day moving average price is $250.01. Trane Technologies plc has a 1-year low of $162.04 and a 1-year high of $306.98.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.04. The company had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.82 EPS. On average, sell-side analysts expect that Trane Technologies plc will post 10.2 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 38.23%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Stephens boosted their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Royal Bank of Canada raised their price objective on Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. The Goldman Sachs Group lifted their target price on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Citigroup raised their price target on Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Barclays lifted their price target on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and an average target price of $251.83.

Insiders Place Their Bets

In related news, SVP Keith A. Sultana sold 1,637 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the sale, the senior vice president now owns 42,374 shares in the company, valued at $11,345,214.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Keith A. Sultana sold 1,637 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the transaction, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Keith A. Sultana sold 1,983 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $272.26, for a total value of $539,891.58. Following the completion of the sale, the senior vice president now directly owns 42,575 shares in the company, valued at approximately $11,591,469.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,874 shares of company stock worth $8,462,825. Corporate insiders own 0.39% of the company’s stock.

About Trane Technologies

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.