Nomura Asset Management Co. Ltd. Has $25.86 Million Stake in Trane Technologies plc (NYSE:TT)

Nomura Asset Management Co. Ltd. lowered its stake in Trane Technologies plc (NYSE:TT) by 14.9% in the third quarter, HoldingsChannel.com reports. The firm 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 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Trust Point Inc. boosted its stake in shares of Trane Technologies by 3.1% in the 3rd quarter. Trust Point Inc. now owns 897 shares of the company’s stock valued at $349,000 after purchasing an additional 27 shares during the last quarter. Cobblestone Capital Advisors LLC NY grew its holdings in Trane Technologies by 1.8% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock worth $579,000 after acquiring an additional 27 shares during the period. First Pacific Financial raised its position in shares of Trane Technologies by 1.1% during the 3rd quarter. First Pacific Financial now owns 2,674 shares of the company’s stock valued at $1,039,000 after acquiring an additional 28 shares during the last quarter. Wescott Financial Advisory Group LLC boosted its position in shares of Trane Technologies by 1.7% in the 3rd quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock worth $670,000 after purchasing an additional 28 shares during the last quarter. Finally, Greenleaf Trust grew its stake in shares of Trane Technologies by 0.5% during the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock worth $2,275,000 after purchasing an additional 29 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TT. Robert W. Baird reduced their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Citigroup lifted their price objective on shares of Trane Technologies from $457.00 to $478.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company upped their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. UBS Group initiated coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price target for the company. Finally, Morgan Stanley began coverage on Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and a consensus price target of $409.93.

Trane Technologies Price Performance

NYSE TT opened at $397.42 on Wednesday. The firm’s 50 day moving average is $401.12 and its 200-day moving average is $362.93. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $89.43 billion, a PE ratio of 36.87, a price-to-earnings-growth ratio of 2.50 and a beta of 1.03. Trane Technologies plc has a 12-month low of $233.76 and a 12-month high of $422.00.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results 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. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the previous year, the business earned $2.79 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. Equities research analysts anticipate that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. Trane Technologies’s dividend payout ratio is 31.17%.

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.