Public Employees Retirement System of Ohio Takes $42.37 Million Position in Trane Technologies plc $TT

Public Employees Retirement System of Ohio purchased a new stake in Trane Technologies plc (NYSE:TT) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 86,254 shares of the company’s stock, valued at approximately $42,365,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Trane Technologies in the fourth quarter valued at approximately $1,163,124,000. Capital International Investors bought a new position in shares of Trane Technologies in the 4th quarter valued at $324,639,000. Amundi raised its holdings in shares of Trane Technologies by 47.8% during the 1st quarter. Amundi now owns 2,174,396 shares of the company’s stock worth $906,158,000 after buying an additional 703,018 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Trane Technologies by 536.6% during the 1st quarter. First Trust Advisors LP now owns 532,138 shares of the company’s stock worth $221,763,000 after buying an additional 448,547 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Trane Technologies by 215.9% in the first quarter. Hsbc Holdings PLC now owns 653,423 shares of the company’s stock valued at $271,950,000 after buying an additional 446,598 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TT has been the subject of several research analyst reports. Royal Bank Of Canada lowered their target price on Trane Technologies from $501.00 to $496.00 and set a “sector perform” rating for the company in a research note on Friday, July 31st. Barclays lifted their price target 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. 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 research report on Friday, May 1st. Wall Street Zen upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Finally, Citigroup decreased their target price on shares of Trane Technologies from $570.00 to $566.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $521.50.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 43,778 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $475.00, for a total transaction of $20,794,550.00. Following the completion of the transaction, the chief executive officer directly owned 96,950 shares in the company, valued at $46,051,250. This trade represents a 31.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Trane Technologies Trading Down 2.0%

TT opened at $454.24 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.07 and a quick ratio of 0.76. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $505.87. The company’s 50 day moving average price is $473.63 and its two-hundred day moving average price is $461.43. The firm has a market capitalization of $99.94 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 2.03 and a beta of 1.19.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, July 30th. The company reported $4.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.27 by $0.04. Trane Technologies had a net margin of 13.28% and a return on equity of 35.72%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter last year, the firm earned $3.88 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. As a group, research analysts predict that Trane Technologies plc will post 15.31 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s payout ratio is 31.82%.

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.