Sumitomo Life Insurance Co. Lowers Stock Position in Trane Technologies plc $TT

Sumitomo Life Insurance Co. decreased its position in shares of Trane Technologies plc (NYSE:TT) by 3.3% in the second quarter, HoldingsChannel reports. The fund owned 10,754 shares of the company’s stock after selling 366 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Trane Technologies were worth $4,704,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Plato Investment Management Ltd lifted its position in Trane Technologies by 0.5% during the second quarter. Plato Investment Management Ltd now owns 11,192 shares of the company’s stock valued at $4,878,000 after acquiring an additional 55 shares during the last quarter. Atlas Private Wealth Advisors lifted its position in Trane Technologies by 0.7% during the second quarter. Atlas Private Wealth Advisors now owns 4,121 shares of the company’s stock valued at $1,802,000 after acquiring an additional 29 shares during the last quarter. Kesler Norman & Wride LLC lifted its position in Trane Technologies by 1.1% during the second quarter. Kesler Norman & Wride LLC now owns 2,672 shares of the company’s stock valued at $1,169,000 after acquiring an additional 29 shares during the last quarter. Saxony Capital Management LLC purchased a new stake in Trane Technologies during the second quarter valued at approximately $258,000. Finally, Great Lakes Retirement Inc. lifted its position in Trane Technologies by 0.8% during the second quarter. Great Lakes Retirement Inc. now owns 15,053 shares of the company’s stock valued at $6,584,000 after acquiring an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and increased their target price for the company from $415.00 to $460.00 in a research report on Thursday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. The Goldman Sachs Group raised their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Northcoast Research cut shares of Trane Technologies from a “buy” rating to a “neutral” rating in a report on Friday, August 1st. Finally, UBS Group raised their price target on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $466.50.

Insiders Place Their Bets

In other news, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total value of $264,000.00. Following the sale, the chief accounting officer owned 7,148 shares in the company, valued at $3,145,120. This represents a 7.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Regnery sold 22,497 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the completion of the sale, the chief executive officer owned 123,713 shares in the company, valued at $50,722,330. The trade was a 15.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is owned by corporate insiders.

Trane Technologies Trading Up 0.6%

NYSE TT opened at $448.95 on Friday. The company has a fifty day simple moving average of $417.33 and a two-hundred day simple moving average of $418.93. The stock has a market cap of $99.90 billion, a P/E ratio of 35.60, a P/E/G ratio of 2.66 and a beta of 1.12. Trane Technologies plc has a 12-month low of $298.15 and a 12-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.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, October 30th. The company reported $3.88 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.08. The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.80 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.37 earnings per share. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. On average, analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be paid 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 0.8%. Trane Technologies’s dividend payout ratio is presently 28.92%.

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.