Trane Technologies plc (NYSE:TT) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its stake in Trane Technologies plc (NYSE:TT) by 0.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 567,079 shares of the company’s stock after acquiring an additional 4,178 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Trane Technologies were worth $220,441,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. DT Investment Partners LLC purchased a new position in Trane Technologies during the third quarter valued at approximately $36,000. Fortitude Family Office LLC increased its stake in shares of Trane Technologies by 63.2% in the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after acquiring an additional 43 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of Trane Technologies during the second quarter worth $39,000. Quarry LP acquired a new stake in Trane Technologies during the second quarter valued at $39,000. Finally, Pittenger & Anderson Inc. acquired a new stake in Trane Technologies during the third quarter valued at $39,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $411.22 on Wednesday. The company has a market cap of $92.53 billion, a price-to-earnings ratio of 38.15, a PEG ratio of 2.63 and a beta of 1.02. The business has a 50 day moving average price of $382.76 and a 200 day moving average price of $350.45. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a twelve month low of $221.22 and a twelve month high of $416.86.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the company posted $2.79 earnings per share. Trane Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. Research analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Wall Street Analyst Weigh In

TT has been the subject of a number of recent research reports. Mizuho raised their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Barclays boosted their target price on shares of Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Stephens restated an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. Finally, HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $380.15.

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.