Resona Asset Management Co. Ltd. Decreases Holdings in Trane Technologies plc $TT

Resona Asset Management Co. Ltd. trimmed its stake in Trane Technologies plc (NYSE:TT) by 9.2% during the third quarter, Holdings Channel reports. The fund owned 60,682 shares of the company’s stock after selling 6,139 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Trane Technologies were worth $25,605,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Trane Technologies during the second quarter valued at $1,356,065,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Trane Technologies by 229.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock worth $766,583,000 after acquiring an additional 1,220,388 shares during the period. Nordea Investment Management AB increased its holdings in Trane Technologies by 89.1% in the 2nd quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock worth $1,066,845,000 after acquiring an additional 1,157,405 shares during the last quarter. ABN AMRO Bank N.V. bought a new stake in Trane Technologies in the 2nd quarter valued at about $291,206,000. Finally, Corient Private Wealth LLC lifted its holdings in Trane Technologies by 135.4% during the second quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock valued at $321,757,000 after purchasing an additional 423,090 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TT shares. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price on the stock in a research report on Monday, December 15th. Wells Fargo & Company reduced their price target on Trane Technologies from $415.00 to $375.00 and set an “underweight” rating for the company in a research report on Friday, December 19th. Barclays reduced their price target on Trane Technologies from $506.00 to $505.00 and set an “overweight” rating for the company in a research report on Wednesday, January 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $479.73.

Trane Technologies Trading Down 1.0%

Shares of TT stock opened at $386.36 on Friday. The company has a market capitalization of $85.67 billion, a PE ratio of 29.72, a price-to-earnings-growth ratio of 1.93 and a beta of 1.21. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The business’s fifty day moving average is $396.44 and its 200 day moving average is $415.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.20.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, October 30th. The company reported $3.88 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.08. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.80 billion. Trane Technologies had a return on equity of 37.04% and a net margin of 13.93%.The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.37 EPS. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. On average, equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total value of $264,000.00. Following the completion of the transaction, the chief accounting officer owned 7,148 shares of the company’s stock, valued at $3,145,120. The trade was a 7.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.