Nomura Asset Management Co. Ltd. Cuts Stake in Trane Technologies plc $TT

Nomura Asset Management Co. Ltd. reduced its position in Trane Technologies plc (NYSE:TT) by 1.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 73,671 shares of the company’s stock after selling 1,371 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Trane Technologies were worth $28,673,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tucker Asset Management LLC purchased a new position in Trane Technologies in the fourth quarter worth $25,000. United Community Bank grew its holdings in Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 43 shares during the last quarter. JPL Wealth Management LLC purchased a new position in Trane Technologies in the third quarter worth $32,000. Creative Financial Designs Inc. ADV grew its holdings in Trane Technologies by 119.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock worth $35,000 after purchasing an additional 49 shares during the last quarter. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Trane Technologies during the third quarter valued at $42,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 36,045 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the transaction, the chief executive officer owned 96,948 shares in the company, valued at $40,978,950.12. This represents a 27.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Elizabeth A. Elwell sold 635 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $268,414.50. Following the transaction, the chief accounting officer owned 7,100 shares of the company’s stock, valued at approximately $3,001,170. This trade represents a 8.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 53,654 shares of company stock worth $23,269,523 in the last quarter. Company insiders own 0.14% of the company’s stock.

Trane Technologies Trading Down 0.6%

Shares of Trane Technologies stock opened at $448.60 on Tuesday. The firm has a 50-day simple moving average of $455.94 and a two-hundred day simple moving average of $430.21. The company has a market cap of $99.17 billion, a P/E ratio of 34.69, a price-to-earnings-growth ratio of 2.08 and a beta of 1.25. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.45 earnings per share. As a group, equities analysts predict that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a dividend of $1.05 per share. 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 is 32.48%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TT shares. Citigroup boosted their price objective 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. Royal Bank Of Canada boosted their price objective 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. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. BNP Paribas Exane started coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective on the stock. Finally, Barclays boosted their price objective 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. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Trane Technologies has an average rating of “Moderate Buy” and an average target price of $506.56.

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.