Trane Technologies plc (NYSE:TT) Shares Sold by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co trimmed its holdings in Trane Technologies plc (NYSE:TT) by 15.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 905 shares of the company’s stock after selling 160 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Trane Technologies were worth $298,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TT. Sachetta LLC bought a new stake in Trane Technologies in the fourth quarter valued at about $27,000. GoalVest Advisory LLC increased its holdings in shares of Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Trane Technologies during the 1st quarter valued at approximately $27,000. BOK Financial Private Wealth Inc. bought a new position in Trane Technologies during the first quarter worth $30,000. Finally, Fortitude Family Office LLC boosted its holdings in Trane Technologies by 63.2% in the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the sale, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the sale, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Trane Technologies Stock Performance

Shares of TT opened at $371.73 on Thursday. The company has a 50-day moving average of $343.21 and a two-hundred day moving average of $324.38. The stock has a market cap of $84.14 billion, a price-to-earnings ratio of 39.71, a PEG ratio of 2.45 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84. Trane Technologies plc has a one year low of $184.02 and a one year high of $379.52.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same quarter last year, the business posted $2.68 EPS. The company’s revenue was up 12.8% on a year-over-year basis. On average, equities research analysts expect that Trane Technologies plc will post 10.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

TT has been the topic of a number of research reports. Barclays increased their target price on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Royal Bank of Canada raised their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. UBS Group upped their target price on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Robert W. Baird raised their price target on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Morgan Stanley assumed coverage on Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $343.54.

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.