State of Wyoming Has $256,000 Position in Trane Technologies plc $TT

State of Wyoming lowered its position in Trane Technologies plc (NYSE:TT) by 66.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 658 shares of the company’s stock after selling 1,310 shares during the quarter. State of Wyoming’s holdings in Trane Technologies were worth $256,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TT. Norges Bank acquired a new stake in Trane Technologies in the fourth quarter valued at $1,163,124,000. JPMorgan Chase & Co. lifted its stake in Trane Technologies by 10.2% in the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after acquiring an additional 1,433,563 shares during the last quarter. Corient Private Wealth LLC lifted its stake in Trane Technologies by 135.4% in the second quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock valued at $321,757,000 after acquiring an additional 423,090 shares during the last quarter. SG Americas Securities LLC lifted its stake in Trane Technologies by 13,460.8% in the fourth quarter. SG Americas Securities LLC now owns 423,504 shares of the company’s stock valued at $164,828,000 after acquiring an additional 420,381 shares during the last quarter. Finally, Credit Agricole S A acquired a new stake in Trane Technologies in the third quarter valued at $118,129,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TT. JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Barclays raised their target price 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. Royal Bank Of Canada raised their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Evercore started coverage on shares of Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 target price for the company. Finally, BNP Paribas Exane started coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Moderate Buy” and an average target price of $509.12.

Trane Technologies Price Performance

TT stock opened at $449.96 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $503.47. The firm has a market cap of $99.46 billion, a P/E ratio of 34.80, a P/E/G ratio of 2.17 and a beta of 1.20. The company’s 50-day moving average price is $462.00 and its two-hundred day moving average price is $432.62.

Trane Technologies (NYSE:TT) last released its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $4.81 billion. During the same period last year, the firm earned $2.45 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, analysts anticipate that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s dividend payout ratio (DPR) is currently 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 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 sale, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. The trade was a 54.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the sale, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. This trade represents 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. Insiders own 0.43% of the company’s stock.

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.