Public Sector Pension Investment Board Purchases 2,322 Shares of Trane Technologies plc $TT

Public Sector Pension Investment Board grew its holdings in shares of Trane Technologies plc (NYSE:TT) by 3.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,567 shares of the company’s stock after purchasing an additional 2,322 shares during the quarter. Public Sector Pension Investment Board’s holdings in Trane Technologies were worth $29,354,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Icon Advisers Inc. Co. bought a new position in Trane Technologies in the 2nd quarter worth approximately $26,000. Financial Consulate Inc. purchased a new stake in shares of Trane Technologies during the third quarter worth $25,000. Hantz Financial Services Inc. grew its position in shares of Trane Technologies by 1,016.7% in the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after purchasing an additional 61 shares in the last quarter. United Community Bank raised its stake in shares of Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after purchasing an additional 43 shares during the period. Finally, Halbert Hargrove Global Advisors LLC lifted its holdings in Trane Technologies by 34.2% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock worth $43,000 after purchasing an additional 26 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $465.04 on Friday. The company’s fifty day moving average price is $403.90 and its 200-day moving average price is $414.84. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. The firm has a market capitalization of $102.93 billion, a price-to-earnings ratio of 35.83, a PEG ratio of 2.42 and a beta of 1.21. Trane Technologies plc has a one year low of $298.15 and a one year high of $479.37.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.61 EPS. On average, equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be given a dividend of $1.05 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date is Friday, March 6th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is currently 28.97%.

Wall Street Analyst Weigh In

TT has been the subject of a number of recent analyst reports. UBS Group reduced their target price on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a report on Monday, January 5th. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Barclays upped their target price on shares of Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a report on Wednesday, January 7th. Finally, Bank of America upgraded shares of Trane Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $490.00 to $550.00 in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $484.67.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,389 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the transaction, the chief financial officer directly owned 60,486 shares of the company’s stock, valued at approximately $27,986,872.20. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Elizabeth A. Elwell sold 137 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.48, for a total transaction of $63,359.76. Following the completion of the sale, the chief accounting officer owned 7,100 shares of the company’s stock, valued at approximately $3,283,608. The trade was a 1.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 8,936 shares of company stock valued at $4,133,991. 0.14% of the stock is currently owned by corporate insiders.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.