Dai ichi Life Insurance Company Ltd Reduces Stake in Trane Technologies plc (NYSE:TT)

Dai ichi Life Insurance Company Ltd trimmed its stake in Trane Technologies plc (NYSE:TT) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,847 shares of the company’s stock after selling 362 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Trane Technologies were worth $6,160,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Albar Capital Ltd purchased a new stake in shares of Trane Technologies during the 2nd quarter valued at approximately $14,556,000. GDS Wealth Management lifted its stake in shares of Trane Technologies by 4.3% during the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after buying an additional 2,124 shares in the last quarter. King Wealth Management Group purchased a new stake in shares of Trane Technologies during the 3rd quarter valued at approximately $1,879,000. Gradient Investments LLC lifted its stake in shares of Trane Technologies by 7,988.0% during the 2nd quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock valued at $665,000 after buying an additional 1,997 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its stake in shares of Trane Technologies by 4.1% during the 2nd quarter. QRG Capital Management Inc. now owns 39,475 shares of the company’s stock valued at $12,985,000 after buying an additional 1,554 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $419.14 on Wednesday. The company’s fifty day moving average price is $395.80 and its 200-day moving average price is $357.67. The firm has a market capitalization of $94.31 billion, a price-to-earnings ratio of 38.88, a PEG ratio of 2.62 and a beta of 1.02. Trane Technologies plc has a one year low of $221.22 and a one year high of $422.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.79 EPS. On average, equities research analysts anticipate that Trane Technologies plc will post 11.14 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio is currently 31.17%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research note on Thursday, October 31st. Wells Fargo & Company increased their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Barclays increased their target price on shares of Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Northcoast Research initiated coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $397.64.

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.