Trane Technologies plc $TT Stock Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its holdings in shares of Trane Technologies plc (NYSE:TT) by 13.9% during the third quarter, HoldingsChannel.com reports. The firm owned 13,516 shares of the company’s stock after acquiring an additional 1,650 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Trane Technologies were worth $6,109,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Amundi grew its holdings in 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 acquiring an additional 703,018 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Trane Technologies by 10.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,878,018 shares of the company’s stock valued at $782,707,000 after purchasing an additional 180,537 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Trane Technologies by 3.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,035,241 shares of the company’s stock valued at $431,347,000 after purchasing an additional 32,286 shares during the period. Ninety One UK Ltd lifted its stake in shares of Trane Technologies by 0.4% in the 3rd quarter. Ninety One UK Ltd now owns 926,668 shares of the company’s stock valued at $418,835,000 after purchasing an additional 3,624 shares during the period. Finally, California Public Employees Retirement System boosted its position in shares of Trane Technologies by 51.9% in the 1st quarter. California Public Employees Retirement System now owns 686,691 shares of the company’s stock worth $286,172,000 after purchasing an additional 234,666 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.1%

TT opened at $424.46 on Friday. The stock has a market capitalization of $92.92 billion, a P/E ratio of 29.98, a P/E/G ratio of 1.99 and a beta of 1.19. The company has a current ratio of 1.12, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $505.87. The firm’s fifty day simple moving average is $444.05 and its 200 day simple moving average is $455.09.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, October 29th. The company reported $4.86 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.12. The company had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.50 billion. Trane Technologies had a return on equity of 37.26% and a net margin of 13.56%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.88 earnings per share. As a group, research analysts anticipate that Trane Technologies plc will post 15.29 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 4th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, December 4th. Trane Technologies’s dividend payout ratio (DPR) is currently 29.66%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David Regnery sold 48,091 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $480.00, for a total value of $23,083,680.00. Following the sale, the chief executive officer owned 96,951 shares in the company, valued at approximately $46,536,480. The trade was a 33.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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.

Wall Street Analyst Weigh In

TT has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Trane Technologies from a “buy” rating to a “hold” rating in a report on Sunday, November 8th. BNP Paribas Exane raised their target price on Trane Technologies from $560.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. JPMorgan Chase & Co. decreased their target price on Trane Technologies from $550.00 to $480.00 and set an “overweight” rating for the company in a research report on Wednesday. Sanford C. Bernstein increased their price target on shares of Trane Technologies from $555.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Finally, Weiss Ratings raised shares of Trane Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $531.22.

Trane Technologies Profile

Trane Technologies plc is a global climate innovator that designs, manufactures, and services heating, ventilation, air conditioning, and refrigeration systems. Its products and services support commercial buildings, homes, and transportation applications, including temperature-controlled shipping. The company’s portfolio includes the Trane brand of HVAC systems and building services, as well as Thermo King equipment for transport refrigeration and climate control. It also offers building controls, energy-efficiency solutions, system maintenance, and related services.