Tokio Marine Asset Management Co. Ltd. Has $2.49 Million Position in Trane Technologies plc (NYSE:TT)

Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Trane Technologies plc (NYSE:TT) by 1.6% during the third quarter, HoldingsChannel reports. The firm owned 6,416 shares of the company’s stock after buying an additional 100 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Trane Technologies were worth $2,494,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TT. Metis Global Partners LLC grew its stake in Trane Technologies by 0.5% in the third quarter. Metis Global Partners LLC now owns 10,812 shares of the company’s stock valued at $4,203,000 after acquiring an additional 55 shares during the period. Huntington National Bank increased its stake in Trane Technologies by 5.6% during the 3rd quarter. Huntington National Bank now owns 5,334 shares of the company’s stock worth $2,073,000 after purchasing an additional 283 shares in the last quarter. Freemont Management S.A. acquired a new stake in Trane Technologies during the 3rd quarter worth approximately $1,749,000. Plato Investment Management Ltd bought a new position in Trane Technologies in the third quarter valued at approximately $4,594,000. Finally, Firetrail Investments PTY Ltd. boosted its holdings in shares of Trane Technologies by 1.2% in the third quarter. Firetrail Investments PTY Ltd. now owns 27,596 shares of the company’s stock valued at $10,717,000 after buying an additional 326 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $410.13 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $92.29 billion, a P/E ratio of 38.05, a P/E/G ratio of 2.63 and a beta of 1.02. Trane Technologies plc has a 12 month low of $221.22 and a 12 month high of $421.78. The stock has a 50 day moving average of $385.43 and a 200-day moving average of $351.65.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The firm had revenue of $5.44 billion during 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 period in the previous year, the business posted $2.79 earnings per share. As a group, equities research analysts predict that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.82%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Stephens restated an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. UBS Group initiated coverage on Trane Technologies in a report on Wednesday. They set a “buy” rating and a $500.00 price objective for the company. The Goldman Sachs Group boosted their target price on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Robert W. Baird lowered their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $389.77.

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.