Sumitomo Mitsui Trust Group Inc. Has $211.85 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Sumitomo Mitsui Trust Group Inc. lifted its position in Trane Technologies plc (NYSE:TT) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 573,573 shares of the company’s stock after acquiring an additional 6,494 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of Trane Technologies worth $211,849,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Trust Point Inc. lifted its stake in Trane Technologies by 3.1% in the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock valued at $349,000 after buying an additional 27 shares in the last quarter. Cobblestone Capital Advisors LLC NY lifted its stake in Trane Technologies by 1.8% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock valued at $579,000 after buying an additional 27 shares in the last quarter. First Pacific Financial lifted its stake in Trane Technologies by 1.1% in the third quarter. First Pacific Financial now owns 2,674 shares of the company’s stock valued at $1,039,000 after buying an additional 28 shares in the last quarter. Wescott Financial Advisory Group LLC lifted its stake in Trane Technologies by 1.7% in the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock valued at $670,000 after buying an additional 28 shares in the last quarter. Finally, Greenleaf Trust lifted its stake in Trane Technologies by 0.5% in the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock valued at $2,275,000 after buying an additional 29 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the sale, the chief executive officer now owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the sale, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at $5,363,488. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,157 shares of company stock valued at $3,168,885. 0.38% of the stock is owned by company insiders.

Trane Technologies Trading Down 0.5 %

TT stock opened at $356.07 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The company has a fifty day moving average price of $384.85 and a two-hundred day moving average price of $376.96. Trane Technologies plc has a one year low of $265.37 and a one year high of $422.00. The stock has a market cap of $80.12 billion, a price-to-earnings ratio of 31.65, a price-to-earnings-growth ratio of 2.18 and a beta of 1.05.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Equities analysts anticipate that Trane Technologies plc will post 12.79 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is presently 29.87%.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of recent research reports. Robert W. Baird lowered their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Barclays lifted their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Citigroup lowered their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Wells Fargo & Company lowered their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Finally, Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $415.25.

Trane Technologies Company 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.