California Public Employees Retirement System Grows Stock Holdings in Trane Technologies plc $TT

California Public Employees Retirement System raised its holdings in Trane Technologies plc (NYSE:TT) by 51.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 686,691 shares of the company’s stock after acquiring an additional 234,666 shares during the period. California Public Employees Retirement System’s holdings in Trane Technologies were worth $286,172,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Tucker Asset Management LLC purchased a new stake in shares of Trane Technologies in the fourth quarter valued at $25,000. Hilton Head Capital Partners LLC purchased a new position in Trane Technologies during the fourth quarter worth about $32,000. JPL Wealth Management LLC purchased a new position in Trane Technologies during the third quarter worth about $32,000. Physician Wealth Advisors Inc. grew its holdings in Trane Technologies by 192.6% in the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after buying an additional 52 shares during the period. Finally, Frazier Financial Advisors LLC acquired a new position in shares of Trane Technologies during the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT opened at $469.59 on Friday. 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 plc has a 1-year low of $348.06 and a 1-year high of $505.87. The firm has a market capitalization of $103.80 billion, a P/E ratio of 36.32, a P/E/G ratio of 2.19 and a beta of 1.19. The business’s 50-day simple moving average is $469.88 and its 200-day simple moving average is $446.98.

Trane Technologies (NYSE:TT) last posted its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter in the prior year, the company earned $2.45 EPS. The company’s revenue was up 6.0% on a year-over-year basis. Equities analysts predict that Trane Technologies plc will post 14.89 EPS for the current year.

Trane Technologies Announces Dividend

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

Insider Activity at Trane Technologies

In related news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction 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 transaction, the insider owned 3,819 shares in the company, valued at approximately $1,909,500. The trade was a 54.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 topic of several recent analyst reports. Citigroup increased their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Royal Bank Of Canada upped their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Barclays increased their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. Finally, KeyCorp boosted their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $516.67.

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.