Nomura Asset Management Co. Ltd. Sells 11,647 Shares of Trane Technologies plc (NYSE:TT)

Nomura Asset Management Co. Ltd. reduced its stake in Trane Technologies plc (NYSE:TT - Free Report) by 14.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,511 shares of the company's stock after selling 11,647 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Trane Technologies were worth $25,855,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TT. MML Investors Services LLC increased its position in shares of Trane Technologies by 12.2% during the third quarter. MML Investors Services LLC now owns 20,767 shares of the company's stock valued at $8,073,000 after acquiring an additional 2,257 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Trane Technologies in the third quarter worth $44,000. Dorsey Wright & Associates lifted its holdings in shares of Trane Technologies by 3.2% during the third quarter. Dorsey Wright & Associates now owns 14,211 shares of the company's stock valued at $5,524,000 after purchasing an additional 443 shares in the last quarter. World Investment Advisors LLC boosted its position in shares of Trane Technologies by 8,614.2% during the third quarter. World Investment Advisors LLC now owns 56,294 shares of the company's stock valued at $21,883,000 after buying an additional 55,648 shares during the last quarter. Finally, Zacks Investment Management increased its holdings in Trane Technologies by 7.4% in the 3rd quarter. Zacks Investment Management now owns 52,854 shares of the company's stock worth $20,546,000 after buying an additional 3,634 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TT. Northcoast Research initiated coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They issued a "buy" rating and a $500.00 price target for the company. HSBC cut Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 price target on the stock. in a report on Thursday, October 31st. Morgan Stanley initiated coverage on Trane Technologies in a research report on Friday, September 6th. They set an "overweight" rating and a $425.00 price objective for the company. Wells Fargo & Company boosted their price target on Trane Technologies from $320.00 to $360.00 and gave the company an "underweight" rating in a research note on Monday, October 7th. Finally, Hsbc Global Res cut shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $409.93.

Trane Technologies Price Performance

Shares of NYSE TT traded up $2.70 during mid-day trading on Wednesday, reaching $400.12. The company's stock had a trading volume of 867,134 shares, compared to its average volume of 1,118,269. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies plc has a 52 week low of $233.76 and a 52 week high of $422.00. The stock has a fifty day moving average of $401.33 and a two-hundred day moving average of $363.35. The firm has a market capitalization of $90.04 billion, a PE ratio of 36.87, a P/E/G ratio of 2.50 and a beta of 1.03.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. The firm had revenue of $5.44 billion for the quarter, compared to analysts' expectations of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.79 earnings per share. As a group, sell-side analysts anticipate that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Friday, December 6th. Trane Technologies's payout ratio is presently 31.17%.

Insider Buying and Selling at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares of the company's stock, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.38% of the stock is currently owned by company insiders.

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.