Trane Technologies plc (NYSE:TT) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board decreased its position in Trane Technologies plc (NYSE:TT) by 2.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,748 shares of the company’s stock after selling 300 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Trane Technologies were worth $3,970,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Creative Planning grew its stake in Trane Technologies by 5.8% during the third quarter. Creative Planning now owns 62,756 shares of the company’s stock worth $24,395,000 after buying an additional 3,446 shares during the period. Swedbank AB raised its stake in shares of Trane Technologies by 2.8% in the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after purchasing an additional 20,400 shares in the last quarter. SeaCrest Wealth Management LLC grew its position in shares of Trane Technologies by 3.6% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 1,394 shares of the company’s stock worth $542,000 after acquiring an additional 48 shares in the last quarter. SPC Financial Inc. increased its stake in Trane Technologies by 7.4% during the third quarter. SPC Financial Inc. now owns 1,314 shares of the company’s stock valued at $511,000 after purchasing an additional 91 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in Trane Technologies by 37.5% in the third quarter. Global Retirement Partners LLC now owns 1,723 shares of the company’s stock worth $670,000 after acquiring an additional 470 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 876 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the transaction, the chief financial officer now directly owns 63,841 shares in the company, valued at approximately $22,818,050.22. The trade was a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the transaction, the senior vice president now owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,563 shares of company stock worth $4,388,966 over the last three months. Company insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TT shares. Northcoast Research began coverage on Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target for the company. Royal Bank of Canada lifted their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. Robert W. Baird decreased their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a research note on Tuesday, January 28th. Finally, Barclays increased their price objective on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $415.25.

Trane Technologies Stock Performance

TT stock opened at $363.58 on Friday. The firm has a market cap of $81.81 billion, a PE ratio of 32.32, a price-to-earnings-growth ratio of 2.44 and a beta of 1.05. Trane Technologies plc has a 1-year low of $270.50 and a 1-year high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average price of $379.41 and a 200-day moving average price of $377.91.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. As a group, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $0.94 per share. 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 1.03%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is presently 29.87%.

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.