Nomura Asset Management Co. Ltd. Increases Stock Position in Trane Technologies plc (NYSE:TT)

Nomura Asset Management Co. Ltd. lifted its holdings in shares of Trane Technologies plc (NYSE:TT) by 2.7% in the fourth quarter, HoldingsChannel reports. The firm owned 68,336 shares of the company’s stock after acquiring an additional 1,825 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Trane Technologies were worth $25,240,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Global Wealth Strategies & Associates purchased a new position in Trane Technologies in the 4th quarter valued at about $26,000. Sound Income Strategies LLC lifted its stake in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares during the period. Flagship Wealth Advisors LLC purchased a new position in shares of Trane Technologies during the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC acquired a new stake in Trane Technologies during the fourth quarter worth approximately $39,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Trane Technologies in the 3rd quarter worth approximately $44,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the transaction, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This represents a 1.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now directly owns 132,969 shares in the company, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock worth $2,588,102 over the last 90 days. Company insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

NYSE:TT opened at $331.69 on Friday. The firm’s fifty day simple moving average is $357.83 and its 200 day simple moving average is $379.96. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00. The firm has a market capitalization of $74.40 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. As a group, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $0.94 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 annualized dividend and a yield of 1.13%. Trane Technologies’s dividend payout ratio (DPR) is 33.42%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. UBS Group decreased their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Melius Research reissued a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $413.69.

Trane Technologies Company 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.