11,300 Shares in Trane Technologies plc $TT Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new position in Trane Technologies plc (NYSE:TT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,300 shares of the company’s stock, valued at approximately $4,709,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TT. Aptus Capital Advisors LLC boosted its holdings in shares of Trane Technologies by 169.8% during the third quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock worth $6,219,000 after purchasing an additional 9,276 shares during the period. Nordea Investment Management AB lifted its holdings in Trane Technologies by 2.9% in the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after buying an additional 72,998 shares during the period. Farther Finance Advisors LLC lifted its holdings in Trane Technologies by 64.0% in the 4th quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock worth $2,911,000 after buying an additional 2,917 shares during the period. Dara Capital US Inc. bought a new stake in shares of Trane Technologies in the 4th quarter worth approximately $966,000. Finally, Korea Investment CORP increased its stake in shares of Trane Technologies by 17.5% during the third quarter. Korea Investment CORP now owns 204,695 shares of the company’s stock valued at $86,373,000 after buying an additional 30,558 shares during the period. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

TT opened at $478.08 on Friday. The firm has a market cap of $105.68 billion, a PE ratio of 36.97, a P/E/G ratio of 2.32 and a beta of 1.20. The stock has a 50-day moving average price of $469.89 and a 200-day moving average price of $437.98. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $505.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.53 by $0.10. The company had revenue of $4.97 billion for 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%. Trane Technologies’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.45 EPS. Sell-side analysts predict that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is presently 32.48%.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares of the company’s stock, valued at $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

TT has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. KeyCorp upped their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Evercore began coverage on Trane Technologies in a research report on Monday, April 13th. They set an “outperform” rating and a $535.00 price objective on the stock. Finally, Barclays boosted their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Trane Technologies presently has an average rating of “Moderate Buy” and an average target price of $509.12.

Trane Technologies 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.