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

Tokio Marine Asset Management Co. Ltd. raised its holdings in Trane Technologies plc (NYSE:TT) by 1.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,416 shares of the company’s stock after acquiring 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.

Other large investors also recently added to or reduced their stakes in the company. DT Investment Partners LLC bought a new stake in shares of Trane Technologies during the 3rd quarter worth $36,000. Fortitude Family Office LLC grew its holdings in Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after buying an additional 43 shares during the last quarter. Triad Wealth Partners LLC bought a new position in Trane Technologies in the 2nd quarter worth approximately $39,000. Quarry LP acquired a new position in shares of Trane Technologies during the second quarter worth approximately $39,000. Finally, Pittenger & Anderson Inc. bought a new stake in shares of Trane Technologies in the third quarter valued at approximately $39,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Trading Down 1.2 %

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

Trane Technologies (NYSE:TT) last issued 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 for the quarter, compared to analyst estimates 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 was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.79 EPS. Research analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio is presently 31.17%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Morgan Stanley began coverage on shares of Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective on the stock. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research note on Thursday, October 31st. Barclays boosted their price target on Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Robert W. Baird reduced their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $389.77.

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.