Mitsubishi UFJ Asset Management Co. Ltd. Has $139.05 Million Holdings in Trane Technologies plc (NYSE:TT)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Trane Technologies plc (NYSE:TT) by 7.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 364,804 shares of the company’s stock after purchasing an additional 24,896 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Trane Technologies worth $139,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

Several brokerages have recently commented on TT. Royal Bank of Canada increased their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. Citigroup lowered their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Melius Research restated a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Barclays decreased their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Finally, JPMorgan Chase & Co. raised their price objective on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $413.69.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the transaction, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction 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 owns 13,401 shares in the company, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Down 1.6 %

Shares of TT opened at $346.58 on Friday. Trane Technologies plc has a 52 week low of $286.32 and a 52 week high of $422.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The firm has a market capitalization of $77.74 billion, a P/E ratio of 30.81, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a 50-day simple moving average of $358.99 and a 200-day simple moving average of $379.82.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

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.