Meiji Yasuda Life Insurance Co Buys 533 Shares of Trane Technologies plc (NYSE:TT)

Meiji Yasuda Life Insurance Co grew its position in shares of Trane Technologies plc (NYSE:TT) by 78.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,216 shares of the company’s stock after acquiring an additional 533 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Trane Technologies were worth $449,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Trane Technologies in the fourth quarter worth $1,117,816,000. Raymond James Financial Inc. purchased a new position in Trane Technologies during the 4th quarter valued at about $611,322,000. Northern Trust Corp grew its holdings in Trane Technologies by 20.1% in the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock worth $948,316,000 after purchasing an additional 429,953 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Trane Technologies by 455.2% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock valued at $167,977,000 after purchasing an additional 350,277 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Trane Technologies by 42.9% during the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after purchasing an additional 293,916 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 1.8 %

TT opened at $399.68 on Friday. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $422.00. The firm’s 50 day simple moving average is $344.26 and its two-hundred day simple moving average is $372.20. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $89.64 billion, a PE ratio of 35.53, a PEG ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the previous year, the company posted $1.94 earnings per share. Trane Technologies’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, June 6th. Trane Technologies’s dividend payout ratio is currently 33.42%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TT. UBS Group lowered their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Melius Research reiterated a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. Citigroup raised their price objective on shares of Trane Technologies from $415.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday. Barclays dropped their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Finally, Royal Bank of Canada raised their price target on shares of Trane Technologies from $363.00 to $408.00 and gave the company a “sector perform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Trane Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $421.07.

Insiders Place Their Bets

In other news, CFO Christopher J. Kuehn sold 876 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the transaction, the chief financial officer now owns 63,841 shares of the company’s stock, valued at $22,818,050.22. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Donald E. Simmons sold 3,571 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. This represents a 49.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,805 shares of company stock worth $3,945,082. Corporate insiders own 0.38% of the company’s stock.

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.