California Public Employees Retirement System Trims Stock Position in Trane Technologies plc (NYSE:TT)

California Public Employees Retirement System cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 5.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 432,855 shares of the company’s stock after selling 23,988 shares during the period. California Public Employees Retirement System owned 0.19% of Trane Technologies worth $82,788,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Monte Financial Group LLC increased its holdings in Trane Technologies by 45.4% in the second quarter. Monte Financial Group LLC now owns 4,596 shares of the company’s stock valued at $879,000 after buying an additional 1,435 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Trane Technologies by 295.4% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 33,858 shares of the company’s stock valued at $6,476,000 after acquiring an additional 25,296 shares during the period. Merit Financial Group LLC increased its position in shares of Trane Technologies by 2.4% in the 2nd quarter. Merit Financial Group LLC now owns 3,325 shares of the company’s stock valued at $636,000 after purchasing an additional 79 shares during the last quarter. Sandy Spring Bank boosted its holdings in shares of Trane Technologies by 6.8% in the 2nd quarter. Sandy Spring Bank now owns 11,300 shares of the company’s stock valued at $2,161,000 after buying an additional 724 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Trane Technologies by 17.9% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,920 shares of the company’s stock valued at $353,000 after buying an additional 292 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on TT shares. Barclays raised their target price on shares of Trane Technologies from $222.00 to $226.00 and gave the stock an “overweight” rating in a research note on Thursday, November 2nd. Wells Fargo & Company reduced their target price on shares of Trane Technologies from $195.00 to $190.00 in a research note on Monday, October 9th. Morgan Stanley raised their target price on shares of Trane Technologies from $231.00 to $234.00 and gave the stock an “overweight” rating in a research note on Friday, September 22nd. Mizuho raised their target price on shares of Trane Technologies from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, August 3rd. Finally, Royal Bank of Canada increased their price target on shares of Trane Technologies from $204.00 to $231.00 and gave the company a “sector perform” rating in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $207.31.

Trane Technologies Stock Up 2.1 %

NYSE:TT opened at $229.05 on Wednesday. The stock’s fifty day moving average price is $204.00 and its two-hundred day moving average price is $194.10. Trane Technologies plc has a 52-week low of $162.04 and a 52-week high of $229.94. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.87 and a current ratio of 1.29. The company has a market cap of $52.12 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 1.84 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, November 1st. The company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.13. The business had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Trane Technologies had a net margin of 11.30% and a return on equity of 31.97%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.27 EPS. On average, analysts anticipate that Trane Technologies plc will post 9.01 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be paid a $0.75 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.00 annualized dividend and a yield of 1.31%. Trane Technologies’s dividend payout ratio (DPR) is currently 35.34%.

Insider Activity at Trane Technologies

In other news, SVP Keith A. Sultana sold 1,637 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $217.36, for a total transaction of $355,818.32. Following the transaction, the senior vice president now directly owns 42,257 shares of the company’s stock, valued at $9,184,981.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Trane Technologies news, EVP Raymond D. Pittard sold 13,144 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $218.24, for a total transaction of $2,868,546.56. Following the sale, the executive vice president now owns 82,235 shares of the company’s stock, valued at $17,946,966.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Keith A. Sultana sold 1,637 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $217.36, for a total transaction of $355,818.32. Following the sale, the senior vice president now directly owns 42,257 shares in the company, valued at approximately $9,184,981.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,366 shares of company stock worth $7,093,065. Insiders own 0.39% of the company’s stock.

Trane Technologies Company 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.