California Public Employees Retirement System Increases Stake in Trane Technologies plc $TT

California Public Employees Retirement System raised its position in Trane Technologies plc (NYSE:TT) by 51.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 686,691 shares of the company’s stock after acquiring an additional 234,666 shares during the period. California Public Employees Retirement System owned approximately 0.31% of Trane Technologies worth $286,172,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TT. Nordea Investment Management AB grew its stake in shares of Trane Technologies by 2.9% during 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. Farther Finance Advisors LLC lifted its stake in shares of Trane Technologies by 64.0% in the fourth quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock valued at $2,911,000 after purchasing an additional 2,917 shares during the period. Dara Capital US Inc. purchased a new stake in Trane Technologies during the fourth quarter worth about $966,000. ProCore Advisors LLC acquired a new position in Trane Technologies during the fourth quarter worth about $939,000. Finally, CGN Advisors LLC acquired a new position in Trane Technologies during the fourth quarter worth about $1,206,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was 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. The trade was a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. BNP Paribas Exane assumed coverage on Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price target on the stock. Evercore began coverage on Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective for the company. Citigroup lifted their price objective on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, Royal Bank Of Canada boosted their target price on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $516.67.

Trane Technologies Stock Down 1.1%

Shares of NYSE TT opened at $469.59 on Friday. The firm’s 50-day moving average is $469.88 and its two-hundred day moving average is $446.98. The company has a market capitalization of $103.80 billion, a PE ratio of 36.32, a price-to-earnings-growth ratio of 2.19 and a beta of 1.19. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $505.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77.

Trane Technologies (NYSE:TT) last issued 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 net margin of 13.41% and a return on equity of 35.55%. The business had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. During the same period last year, the company posted $2.45 EPS. The company’s revenue was up 6.0% on a year-over-year basis. Equities analysts anticipate that Trane Technologies plc will post 14.89 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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

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.