Strs Ohio Sells 2,944 Shares of Trane Technologies plc $TT

Strs Ohio lowered its position in shares of Trane Technologies plc (NYSE:TT) by 3.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 96,274 shares of the company’s stock after selling 2,944 shares during the period. Strs Ohio’s holdings in Trane Technologies were worth $40,121,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Trane Technologies by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock worth $7,791,909,000 after acquiring an additional 192,270 shares in the last quarter. State Street Corp increased its position in Trane Technologies by 0.6% during the 4th quarter. State Street Corp now owns 10,113,123 shares of the company’s stock valued at $3,936,034,000 after purchasing an additional 61,393 shares during the period. Geode Capital Management LLC raised its holdings in shares of Trane Technologies by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock valued at $1,964,896,000 after purchasing an additional 14,179 shares in the last quarter. Norges Bank purchased a new stake in shares of Trane Technologies in the 4th quarter worth approximately $1,163,124,000. Finally, Nordea Investment Management AB lifted its position in shares of Trane Technologies by 2.9% in the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after purchasing an additional 72,998 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TT has been the topic of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. Evercore assumed coverage on Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 target price for the company. KeyCorp increased their target price on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. lifted their price target on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, Citigroup boosted their price target on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $509.12.

Insider Activity

In related news, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. This trade represents a 54.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the sale, the chief financial officer owned 60,576 shares of the company’s stock, valued at $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by company insiders.

Trane Technologies Stock Performance

Shares of TT stock opened at $477.76 on Friday. The business’s fifty day simple moving average is $470.69 and its 200-day simple moving average is $440.93. The company has a market cap of $105.61 billion, a PE ratio of 36.95, a PEG ratio of 2.20 and a beta of 1.19. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $505.87.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter last year, the firm earned $2.45 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts expect that Trane Technologies plc will post 14.9 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be paid a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is 32.48%.

Trane Technologies 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.