Retirement Systems of Alabama Has $12.28 Million Holdings in Trane Technologies plc (NYSE:TT)

Retirement Systems of Alabama lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,336 shares of the company’s stock after selling 1,307 shares during the quarter. Retirement Systems of Alabama’s holdings in Trane Technologies were worth $12,277,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TT. JPMorgan Chase & Co. grew its holdings in shares of Trane Technologies by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after purchasing an additional 880,583 shares in the last quarter. FMR LLC increased its holdings in Trane Technologies by 12.4% in the 3rd quarter. FMR LLC now owns 5,743,154 shares of the company’s stock valued at $1,165,343,000 after buying an additional 632,598 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Trane Technologies by 2.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock valued at $821,952,000 after buying an additional 103,823 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Trane Technologies by 0.6% during the 3rd quarter. Morgan Stanley now owns 2,797,382 shares of the company’s stock worth $567,617,000 after acquiring an additional 17,758 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Trane Technologies by 4.3% during the 3rd quarter. Northern Trust Corp now owns 2,522,449 shares of the company’s stock valued at $511,830,000 after acquiring an additional 104,653 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The transaction was disclosed in a legal 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 transaction, the chief financial officer now owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David S. Regnery sold 6,990 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the sale, the chief executive officer now owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,237 shares of company stock valued at $8,024,534. 0.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

TT has been the subject of several recent research reports. Mizuho increased their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday. Robert W. Baird raised their target price on Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a research report on Wednesday. Barclays upped their price target on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Stephens boosted their target price on shares of Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Citigroup increased their target price on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average target price of $288.38.

Trane Technologies Stock Down 0.7 %

NYSE:TT opened at $315.08 on Thursday. The stock’s fifty day moving average price is $294.39 and its two-hundred day moving average price is $256.74. The company has a market cap of $71.39 billion, a price-to-earnings ratio of 33.66, a P/E/G ratio of 2.61 and a beta of 1.01. Trane Technologies plc has a 52-week low of $162.04 and a 52-week high of $327.09. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.78 and a current ratio of 1.13.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.30. The business had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.41 earnings per share. On average, analysts anticipate that Trane Technologies plc will post 10.49 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

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.