Public Employees Retirement System of Ohio Sells 4,920 Shares of Trane Technologies plc (NYSE:TT)

Public Employees Retirement System of Ohio trimmed its holdings in Trane Technologies plc (NYSE:TT) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 99,314 shares of the company’s stock after selling 4,920 shares during the period. Public Employees Retirement System of Ohio’s holdings in Trane Technologies were worth $36,682,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new stake in Trane Technologies during the 4th quarter worth approximately $468,000. Stonegate Investment Group LLC increased its position in shares of Trane Technologies by 11.9% during the fourth quarter. Stonegate Investment Group LLC now owns 15,378 shares of the company’s stock worth $5,680,000 after acquiring an additional 1,633 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its position in shares of Trane Technologies by 1,490.3% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 19,417 shares of the company’s stock worth $7,172,000 after acquiring an additional 18,196 shares in the last quarter. Longboard Asset Management LP bought a new stake in Trane Technologies in the 4th quarter valued at $257,000. Finally, Consolidated Planning Corp lifted its position in Trane Technologies by 8.3% in the 4th quarter. Consolidated Planning Corp now owns 14,252 shares of the company’s stock valued at $5,264,000 after acquiring an additional 1,091 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Performance

Shares of TT stock opened at $423.71 on Friday. The company has a fifty day moving average price of $366.28 and a two-hundred day moving average price of $375.13. Trane Technologies plc has a one year low of $298.15 and a one year high of $433.60. The stock has a market cap of $94.50 billion, a P/E ratio of 37.66, a P/E/G ratio of 2.50 and a beta of 1.14. 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 (NYSE:TT) last issued its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.25. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Trane Technologies’s revenue was up 11.2% on a year-over-year basis. During the same period last year, the business posted $1.94 EPS. As a group, equities analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 0.89%. Trane Technologies’s dividend payout ratio is currently 31.28%.

Analysts Set New Price Targets

A number of brokerages have recently commented on TT. Barclays cut their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $334.00 to $400.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Citigroup upped their price target on Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. HSBC upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $405.00 to $415.00 in a report on Friday, April 25th. Finally, Royal Bank of Canada increased their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Moderate Buy” and an average target price of $427.47.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the sale, the insider now owns 3,593 shares of the company’s stock, valued at approximately $1,365,340. The trade was a 49.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.38% of the stock is owned by insiders.

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.