Maryland State Retirement & Pension System Buys 332 Shares of Trane Technologies plc (NYSE:TT)

Maryland State Retirement & Pension System grew its position in Trane Technologies plc (NYSE:TT) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,720 shares of the company’s stock after acquiring an additional 332 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Trane Technologies were worth $4,322,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. BKM Wealth Management LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth about $25,000. Venturi Wealth Management LLC raised its position in shares of Trane Technologies by 139.7% during the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock worth $31,000 after acquiring an additional 88 shares during the last quarter. Rosenberg Matthew Hamilton raised its holdings in Trane Technologies by 27.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock worth $47,000 after purchasing an additional 41 shares during the last quarter. Ancora Advisors LLC acquired a new position in Trane Technologies during the 3rd quarter valued at about $40,000. Finally, Operose Advisors LLC acquired a new stake in shares of Trane Technologies during the 3rd quarter worth approximately $53,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 2,767 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total value of $742,413.77. Following the completion of the transaction, the chief financial officer now directly owns 54,788 shares of the company’s stock, valued at approximately $14,700,168.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,767 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the transaction, the chief financial officer now owns 54,788 shares in the company, valued at approximately $14,700,168.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the sale, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at approximately $24,449,442.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,237 shares of company stock valued at $8,024,534. Company insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on TT. TD Cowen lifted their price objective on Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Royal Bank of Canada upped their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Robert W. Baird boosted their target price on Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Wells Fargo & Company increased their price objective on shares of Trane Technologies from $281.00 to $295.00 and gave the stock an “underweight” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lifted their target price on Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average price target of $300.54.

Trane Technologies Stock Performance

Shares of NYSE TT traded up $0.75 during trading on Tuesday, reaching $326.49. 482,241 shares of the company traded hands, compared to its average volume of 1,022,892. The stock has a market capitalization of $73.90 billion, a PE ratio of 34.74, a P/E/G ratio of 2.54 and a beta of 1.01. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The firm has a 50 day simple moving average of $296.65 and a 200-day simple moving average of $259.66. Trane Technologies plc has a 52-week low of $162.04 and a 52-week high of $327.47.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The business had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 EPS. Equities research analysts anticipate that Trane Technologies plc will post 10.48 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s payout ratio is 35.90%.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.