Trane Technologies plc (NYSE:TT) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its holdings in Trane Technologies plc (NYSE:TT) by 16.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 456,905 shares of the company’s stock after selling 87,683 shares during the period. New York State Common Retirement Fund owned about 0.20% of Trane Technologies worth $111,439,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. BKM Wealth Management LLC bought a new position in shares of Trane Technologies in the 4th quarter worth about $25,000. Venturi Wealth Management LLC raised its holdings in Trane Technologies by 139.7% during the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock worth $31,000 after purchasing an additional 88 shares in the last quarter. Avior Wealth Management LLC lifted its position in Trane Technologies by 58.0% in the third quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock worth $36,000 after purchasing an additional 65 shares during the period. Rosenberg Matthew Hamilton lifted its position in Trane Technologies by 27.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock worth $47,000 after purchasing an additional 41 shares during the period. Finally, Ancora Advisors LLC bought a new position in Trane Technologies during the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on TT shares. Stephens boosted their price objective on Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Citigroup upped their price target on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a report on Monday, April 8th. The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Barclays increased their target price on shares of Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada lifted their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $251.83.

Trane Technologies Stock Up 1.4 %

Shares of TT stock traded up $3.95 during trading on Tuesday, hitting $295.10. 215,367 shares of the company were exchanged, compared to its average volume of 984,714. The business’s 50-day simple moving average is $290.05 and its 200 day simple moving average is $252.29. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $306.98. The firm has a market capitalization of $67.01 billion, a price-to-earnings ratio of 33.34, a P/E/G ratio of 2.43 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The company had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same quarter last year, the business posted $1.82 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, analysts forecast that Trane Technologies plc will post 10.2 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.14%. Trane Technologies’s dividend payout ratio is 38.23%.

Insider Activity

In related news, CFO Christopher J. Kuehn sold 2,767 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total value of $742,413.77. Following the transaction, the chief financial officer now owns 54,788 shares in the company, valued at $14,700,168.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Christopher J. Kuehn sold 3,762 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total value of $1,077,737.76. Following the completion of the sale, the chief financial officer now directly owns 61,691 shares in the company, valued at $17,673,237.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Christopher J. Kuehn sold 2,767 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total transaction of $742,413.77. Following the sale, the chief financial officer now directly owns 54,788 shares of the company’s stock, valued at $14,700,168.28. The disclosure for this sale can be found here. Insiders sold a total of 29,874 shares of company stock worth $8,462,825 in the last three months. 0.39% of the stock is owned by insiders.

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.