Sumitomo Mitsui Trust Group Inc. Has $249.79 Million Stake in Trane Technologies plc $TT

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Trane Technologies plc (NYSE:TT) by 5.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 571,073 shares of the company’s stock after acquiring an additional 29,936 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Trane Technologies were worth $249,793,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TT. Ameriflex Group Inc. acquired a new stake in shares of Trane Technologies during the 2nd quarter valued at about $28,000. Saudi Central Bank acquired a new stake in Trane Technologies in the 1st quarter worth approximately $30,000. Bogart Wealth LLC lifted its holdings in Trane Technologies by 97.9% in the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares during the last quarter. Tradewinds Capital Management LLC lifted its holdings in Trane Technologies by 46.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 95 shares of the company’s stock worth $32,000 after purchasing an additional 30 shares during the last quarter. Finally, Olde Wealth Management LLC acquired a new stake in Trane Technologies in the 1st quarter worth approximately $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total value of $9,223,770.00. Following the sale, the chief executive officer directly owned 123,713 shares in the company, valued at $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. UBS Group boosted their target price on Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Robert W. Baird lifted their price target on Trane Technologies from $396.00 to $450.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. The Goldman Sachs Group lifted their price target on Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and lifted their price target for the stock from $415.00 to $460.00 in a research report on Thursday, July 31st. Finally, Barclays dropped their price target on Trane Technologies from $495.00 to $485.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 16th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $464.29.

Trane Technologies Stock Performance

TT opened at $425.81 on Friday. The stock has a market cap of $94.75 billion, a PE ratio of 33.77, a P/E/G ratio of 2.59 and a beta of 1.12. 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 plc has a 1 year low of $298.15 and a 1 year high of $476.18. The stock’s 50 day simple moving average is $416.36 and its 200-day simple moving average is $414.52.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.79 by $0.09. The business had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.Trane Technologies’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, December 5th. Trane Technologies’s dividend payout ratio is 29.82%.

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.