Trane Technologies plc (NYSE:TT) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 25.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 220,483 shares of the company’s stock after buying an additional 45,298 shares during the quarter. Teacher Retirement System of Texas’ holdings in Trane Technologies were worth $81,435,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sandy Spring Bank increased its position in shares of Trane Technologies by 4.0% in the 4th quarter. Sandy Spring Bank now owns 15,929 shares of the company’s stock worth $5,883,000 after purchasing an additional 606 shares during the last quarter. Xponance Inc. lifted its holdings in Trane Technologies by 4.1% during the 4th quarter. Xponance Inc. now owns 42,178 shares of the company’s stock worth $15,578,000 after buying an additional 1,660 shares during the last quarter. Generali Asset Management SPA SGR acquired a new position in shares of Trane Technologies in the 4th quarter worth approximately $12,849,000. Horizon Investments LLC increased its holdings in shares of Trane Technologies by 61.7% in the 4th quarter. Horizon Investments LLC now owns 9,221 shares of the company’s stock valued at $3,406,000 after acquiring an additional 3,520 shares during the last quarter. Finally, Axxcess Wealth Management LLC raised its position in shares of Trane Technologies by 176.3% during the 4th quarter. Axxcess Wealth Management LLC now owns 1,445 shares of the company’s stock valued at $534,000 after acquiring an additional 922 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 1.8 %

Shares of TT stock opened at $350.28 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The stock has a market cap of $78.56 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The business’s fifty day moving average is $362.58 and its 200-day moving average is $379.83. Trane Technologies plc has a 1 year low of $286.32 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS 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%. Equities analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.07%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is presently 33.42%.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the transaction, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Christopher J. Kuehn sold 770 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the completion of the sale, the chief financial officer now owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TT has been the subject of several recent research reports. Melius Research reiterated a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. Citigroup cut their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Wells Fargo & Company lowered their price objective on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. 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 price target for the company. Finally, Barclays dropped their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $413.69.

Trane Technologies 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.