Meiji Yasuda Asset Management Co Ltd. Boosts Position in Trane Technologies plc (NYSE:TT)

Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Trane Technologies plc (NYSE:TT) by 5.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,630 shares of the company’s stock after purchasing an additional 172 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Trane Technologies were worth $1,194,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC lifted its position in shares of Trane Technologies by 138.0% in the first quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock valued at $2,001,000 after acquiring an additional 3,866 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Trane Technologies by 3.0% in the first quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock valued at $135,796,000 after acquiring an additional 13,078 shares in the last quarter. Sei Investments Co. boosted its position in shares of Trane Technologies by 379.2% in the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock worth $91,909,000 after buying an additional 242,271 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Trane Technologies in the fourth quarter worth about $3,086,000. Finally, Capital World Investors boosted its holdings in Trane Technologies by 0.6% in the fourth quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock valued at $530,870,000 after purchasing an additional 11,930 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Trane Technologies

In other news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 2.6 %

NYSE:TT opened at $381.30 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $343.95 and its two-hundred day moving average is $324.78. The company has a market cap of $86.31 billion, a PE ratio of 40.74, a P/E/G ratio of 2.45 and a beta of 1.01. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $382.49.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.68 EPS. On average, analysts predict that Trane Technologies plc will post 10.87 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on TT. Stephens reissued an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. Royal Bank of Canada increased their price target on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. Robert W. Baird increased their price target on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Barclays increased their price target on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company increased their price target on Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $343.54.

About Trane Technologies

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.