Resona Asset Management Co. Ltd. Has $22.27 Million Stake in Trane Technologies plc $TT

Resona Asset Management Co. Ltd. lowered its position in Trane Technologies plc (NYSE:TT) by 5.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 57,231 shares of the company’s stock after selling 3,451 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Trane Technologies were worth $22,274,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. OneAscent Wealth Management LLC increased its holdings in Trane Technologies by 1.5% in the third quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock worth $686,000 after buying an additional 24 shares during the last quarter. Bridgewater Advisors Inc. increased its holdings in Trane Technologies by 3.7% in the third quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock worth $285,000 after buying an additional 24 shares during the last quarter. West Family Investments Inc. increased its holdings in Trane Technologies by 2.3% in the third quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock worth $452,000 after buying an additional 24 shares during the last quarter. Cresset Asset Management LLC increased its holdings in Trane Technologies by 0.3% in the third quarter. Cresset Asset Management LLC now owns 7,012 shares of the company’s stock worth $2,959,000 after buying an additional 24 shares during the last quarter. Finally, Bryn Mawr Trust Advisors LLC increased its holdings in Trane Technologies by 1.2% in the fourth quarter. Bryn Mawr Trust Advisors LLC now owns 2,112 shares of the company’s stock worth $822,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. BNP Paribas Exane assumed coverage on Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective on the stock. Royal Bank Of Canada increased their price objective on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Evercore assumed coverage on Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective on the stock. Barclays increased their price target on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. increased their price target on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $506.56.

Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 36,045 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the transaction, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at $40,978,950.12. This trade represents a 27.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 53,654 shares of company stock valued at $23,269,523 in the last ninety days. 0.14% of the stock is owned by company insiders.

Trane Technologies Trading Down 2.7%

Shares of Trane Technologies stock opened at $448.04 on Wednesday. The company’s fifty day simple moving average is $451.15 and its 200-day simple moving average is $429.24. The company has a market cap of $99.04 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.12 and a beta of 1.25. 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 plc has a 1 year low of $348.06 and a 1 year high of $503.47.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.10. The business had revenue of $4.97 billion for 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%. Trane Technologies’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $2.45 earnings per share. Trane Technologies has set its FY 2026 guidance at 14.750-14.950 EPS. As a group, sell-side analysts expect that Trane Technologies plc will post 14.9 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, June 5th. Trane Technologies’s dividend payout ratio (DPR) is 32.48%.

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.