Daiwa Securities Group Inc. Purchases 21,153 Shares of Trane Technologies plc (NYSE:TT)

Daiwa Securities Group Inc. raised its holdings in shares of Trane Technologies plc (NYSE:TT) by 27.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,813 shares of the company’s stock after acquiring an additional 21,153 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Trane Technologies were worth $36,128,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TT. Global Wealth Strategies & Associates purchased a new position in Trane Technologies in the 4th quarter worth approximately $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Trane Technologies during the third quarter valued at approximately $27,000. Sound Income Strategies LLC lifted its holdings in shares of Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after buying an additional 92 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of Trane Technologies during the fourth quarter worth $39,000. Finally, Legacy Investment Solutions LLC purchased a new position in Trane Technologies during the third quarter valued at $44,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher J. Kuehn sold 770 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction of $275,960.30. Following the completion of the transaction, the chief financial officer now directly owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,234 shares of company stock valued at $2,588,102. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 0.9 %

Shares of TT opened at $344.81 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The firm has a market capitalization of $77.34 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 2.50 and a beta of 1.08. The company has a 50-day moving average of $367.96 and a 200 day moving average of $380.61. Trane Technologies plc has a 1-year low of $279.00 and a 1-year high of $422.00.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

Wall Street Analyst Weigh In

Several brokerages have commented on TT. 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. Barclays increased their price target on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Royal Bank of Canada increased their target price on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Northcoast Research initiated coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target on the stock. Finally, UBS Group lowered their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and a consensus target price of $415.25.

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.