Sumitomo Life Insurance Co. Sells 617 Shares of Trane Technologies plc (NYSE:TT)

Sumitomo Life Insurance Co. reduced its stake in Trane Technologies plc (NYSE:TT) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,581 shares of the company’s stock after selling 617 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Trane Technologies were worth $3,800,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in shares of Trane Technologies during the first quarter worth $178,000. Blair William & Co. IL grew its stake in shares of Trane Technologies by 3.0% in the first quarter. Blair William & Co. IL now owns 16,727 shares of the company’s stock worth $2,554,000 after purchasing an additional 495 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Trane Technologies in the first quarter worth $219,000. Vanguard Group Inc. grew its stake in shares of Trane Technologies by 0.4% in the first quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock worth $2,769,040,000 after purchasing an additional 77,924 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Trane Technologies by 3.8% in the first quarter. Mackenzie Financial Corp now owns 956,177 shares of the company’s stock worth $146,008,000 after purchasing an additional 34,591 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.1 %

NYSE:TT traded down $0.28 during trading hours on Friday, reaching $296.96. The company’s stock had a trading volume of 996,306 shares, compared to its average volume of 786,448. The firm has a market capitalization of $67.43 billion, a price-to-earnings ratio of 33.78, a PEG ratio of 2.51 and a beta of 1.05. The firm has a 50-day simple moving average of $287.68 and a 200-day simple moving average of $248.09. Trane Technologies plc has a 1 year low of $162.04 and a 1 year high of $306.98. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13.

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

Trane Technologies Announces Dividend

The company also recently declared 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 1.13%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 38.23%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Citigroup boosted their price objective on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Stephens upped their price target on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. The Goldman Sachs Group upped their price target on shares of Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $200.00 to $246.00 and gave the company an “underweight” rating in a report on Tuesday, December 19th. Finally, Barclays upped their price objective on shares of Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a 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 company. According to MarketBeat, Trane Technologies presently has an average rating of “Hold” and an average price target of $251.83.

Insider Activity

In other news, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $267.74, for a total transaction of $438,290.38. Following the sale, the senior vice president now owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $267.74, for a total transaction of $438,290.38. Following the sale, the senior vice president now owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David S. Regnery sold 6,990 shares of Trane Technologies stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the transaction, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,874 shares of company stock valued at $8,462,825. Corporate insiders own 0.39% of the company’s stock.

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.