Arizona State Retirement System Acquires 190 Shares of Trane Technologies plc (NYSE:TT)

Arizona State Retirement System boosted its holdings in Trane Technologies plc (NYSE:TT) by 0.3% in the fourth quarter, Holdings Channel reports. The firm owned 65,090 shares of the company’s stock after purchasing an additional 190 shares during the quarter. Arizona State Retirement System’s holdings in Trane Technologies were worth $24,041,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Global Wealth Strategies & Associates bought a new position in Trane Technologies in the fourth quarter valued at $26,000. MidAtlantic Capital Management Inc. bought a new position in shares of Trane Technologies in the 3rd quarter valued at about $27,000. Sound Income Strategies LLC grew its position in shares of Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after acquiring an additional 92 shares during the period. Pittenger & Anderson Inc. bought a new position in shares of Trane Technologies in the 3rd quarter valued at about $39,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Trane Technologies in the 4th quarter valued at about $39,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Citigroup decreased their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Barclays lifted their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. UBS Group decreased their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. Finally, Northcoast Research began coverage on shares of Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 target price for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Trane Technologies has an average rating of “Hold” and an average price target of $415.25.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $348.78 on Thursday. Trane Technologies plc has a twelve month low of $279.00 and a twelve month high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a 50-day simple moving average of $369.25 and a two-hundred day simple moving average of $380.46. The stock has a market capitalization of $78.23 billion, a price-to-earnings ratio of 31.00, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a $0.94 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. Trane Technologies’s payout ratio is presently 29.87%.

Insider Activity

In other news, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the transaction, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the transaction, the chief executive officer now owns 132,969 shares of the company’s stock, valued at $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is currently owned by corporate insiders.

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.