Public Sector Pension Investment Board Buys 2,322 Shares of Trane Technologies plc $TT

Public Sector Pension Investment Board increased its stake in Trane Technologies plc (NYSE:TT) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,567 shares of the company’s stock after acquiring an additional 2,322 shares during the period. Public Sector Pension Investment Board’s holdings in Trane Technologies were worth $29,354,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Trane Technologies in the second quarter valued at approximately $1,356,065,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Trane Technologies by 229.3% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock worth $766,583,000 after buying an additional 1,220,388 shares during the period. Nordea Investment Management AB raised its holdings in Trane Technologies by 89.1% during the 2nd quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock valued at $1,066,845,000 after buying an additional 1,157,405 shares during the last quarter. ABN AMRO Bank N.V. purchased a new stake in Trane Technologies during the 2nd quarter valued at $291,206,000. Finally, Corient Private Wealth LLC boosted its position in Trane Technologies by 135.4% during the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock valued at $321,757,000 after buying an additional 423,090 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 5,588 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.60, for a total value of $2,585,008.80. Following the completion of the transaction, the chief executive officer directly owned 96,948 shares in the company, valued at $44,848,144.80. This trade represents a 5.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald E. Simmons sold 822 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.57, for a total transaction of $380,232.54. Following the sale, the insider directly owned 3,819 shares in the company, valued at $1,766,554.83. The trade was a 17.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 8,936 shares of company stock valued at $4,133,991 over the last 90 days. 0.14% of the stock is owned by corporate insiders.

Trane Technologies Stock Performance

Shares of TT opened at $465.04 on Friday. The company has a 50-day simple moving average of $403.90 and a two-hundred day simple moving average of $414.84. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. The firm has a market capitalization of $102.93 billion, a PE ratio of 35.83, a price-to-earnings-growth ratio of 2.42 and a beta of 1.21. Trane Technologies plc has a one year low of $298.15 and a one year high of $479.37.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter last year, the business posted $2.61 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a dividend of $1.05 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is presently 28.97%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TT shares. Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective on the stock in a research report on Wednesday, January 7th. Barclays boosted their price target on Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a report on Friday, January 30th. KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective for the company in a report on Monday, December 15th. Wells Fargo & Company lifted their price objective on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. Finally, Citigroup upped their target price on Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $484.67.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.