VIRGINIA RETIREMENT SYSTEMS ET Al Boosts Holdings in Trane Technologies plc $TT

VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Trane Technologies plc (NYSE:TT) by 24.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,600 shares of the company’s stock after purchasing an additional 1,700 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Trane Technologies were worth $3,347,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. United Community Bank boosted its stake in shares of Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after acquiring an additional 43 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Trane Technologies during the 3rd quarter worth about $32,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Trane Technologies during the 3rd quarter worth about $42,000. Hantz Financial Services Inc. boosted its stake in shares of Trane Technologies by 58.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock worth $45,000 after acquiring an additional 39 shares in the last quarter. Finally, Key Financial Inc boosted its stake in shares of Trane Technologies by 833.3% during the 3rd quarter. Key Financial Inc now owns 112 shares of the company’s stock worth $48,000 after acquiring an additional 100 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. KeyCorp increased their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Oppenheimer increased their target price on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. BNP Paribas Exane started coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price on the stock. Wells Fargo & Company upped their price target on shares of 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 price target on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Trane Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $506.56.

Trane Technologies Stock Up 2.2%

TT opened at $481.43 on Friday. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $503.47. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $449.74 and a 200 day moving average price of $428.59. The company has a market cap of $106.42 billion, a PE ratio of 37.23, a price-to-earnings-growth ratio of 2.17 and a beta of 1.25.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.45 EPS. Sell-side analysts expect that Trane Technologies plc will post 14.87 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be issued a $1.05 dividend. The ex-dividend date is Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio is presently 32.48%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 635 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $268,414.50. Following the completion of the sale, the chief accounting officer owned 7,100 shares in the company, valued at approximately $3,001,170. This represents a 8.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the sale, the chief financial officer owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. The trade was a 12.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 53,654 shares of company stock worth $23,269,523 in the last quarter. Insiders own 0.14% of the company’s stock.

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.