Trane Technologies plc (NYSE:TT) Holdings Trimmed by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its holdings in Trane Technologies plc (NYSE:TT) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,100 shares of the company’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Trane Technologies were worth $4,469,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Tidal Investments LLC grew its stake in shares of Trane Technologies by 22.2% in the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after purchasing an additional 2,874 shares during the last quarter. Synovus Financial Corp boosted its holdings in Trane Technologies by 16.8% during the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after buying an additional 1,271 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in Trane Technologies in the fourth quarter worth approximately $468,000. HB Wealth Management LLC increased its holdings in shares of Trane Technologies by 14.3% in the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after buying an additional 711 shares in the last quarter. Finally, GDS Wealth Management lifted its position in shares of Trane Technologies by 4.3% during the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after acquiring an additional 2,124 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Down 0.8 %

TT opened at $361.80 on Thursday. The company has a market capitalization of $81.41 billion, a PE ratio of 32.16, a price-to-earnings-growth ratio of 2.44 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a fifty-two week low of $265.37 and a fifty-two week high of $422.00. The business has a 50-day moving average of $381.60 and a 200-day moving average of $378.14.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Equities research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $0.94 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.04%. Trane Technologies’s dividend payout ratio is currently 29.87%.

Insiders Place Their Bets

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock valued at $4,388,966 over the last three months. 0.38% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on TT shares. Robert W. Baird reduced their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. Wells Fargo & Company cut their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Mizuho upped their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada raised their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $415.25.

About Trane Technologies

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.