FUKOKU MUTUAL LIFE INSURANCE Co Takes Position in Trane Technologies plc (NYSE:TT)

FUKOKU MUTUAL LIFE INSURANCE Co bought a new stake in shares of Trane Technologies plc (NYSE:TT) in the 3rd quarter, Holdings Channel reports. The fund bought 1,689 shares of the company’s stock, valued at approximately $657,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of TT. Albar Capital Ltd acquired a new position in Trane Technologies in the second quarter valued at approximately $14,556,000. M&G Plc acquired a new stake in Trane Technologies in the first quarter worth $8,939,000. GDS Wealth Management lifted its stake in Trane Technologies by 4.3% in the third 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 during the last quarter. Gradient Investments LLC boosted its holdings in shares of Trane Technologies by 7,988.0% during the second quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock valued at $665,000 after acquiring an additional 1,997 shares during the period. Finally, Bessemer Group Inc. grew its position in shares of Trane Technologies by 29.2% during the first quarter. Bessemer Group Inc. now owns 53,255 shares of the company’s stock worth $15,988,000 after acquiring an additional 12,045 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TT. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Mizuho lifted their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. The Goldman Sachs Group increased their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Morgan Stanley began coverage on shares of Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target for the company. Finally, Wells Fargo & Company increased their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $389.77.

Trane Technologies Stock Performance

Shares of TT opened at $410.13 on Friday. Trane Technologies plc has a 52 week low of $221.22 and a 52 week high of $421.78. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The company has a market capitalization of $92.29 billion, a PE ratio of 38.05, a PEG ratio of 2.63 and a beta of 1.02. The company’s 50 day moving average price is $386.78 and its 200 day moving average price is $352.06.

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. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. Trane Technologies’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $2.79 earnings per share. Research analysts expect that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed 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 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio is currently 31.17%.

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.