Trane Technologies plc (NYSE:TT) Holdings Decreased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 0.8% during the third quarter, Holdings Channel.com reports. The firm owned 12,700 shares of the company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Trane Technologies were worth $4,937,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Trust Point Inc. raised its position in Trane Technologies by 3.1% in the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock worth $349,000 after acquiring an additional 27 shares in the last quarter. First Pacific Financial raised its position in Trane Technologies by 1.1% in the third quarter. First Pacific Financial now owns 2,674 shares of the company’s stock worth $1,039,000 after acquiring an additional 28 shares in the last quarter. Greenleaf Trust raised its position in Trane Technologies by 0.5% in the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock worth $2,275,000 after acquiring an additional 29 shares in the last quarter. Lake Street Advisors Group LLC raised its position in Trane Technologies by 1.6% in the third quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company’s stock worth $737,000 after acquiring an additional 30 shares in the last quarter. Finally, PFG Private Wealth Management LLC raised its position in Trane Technologies by 4.7% in the second quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock worth $232,000 after acquiring an additional 32 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TT shares. The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Mizuho lifted their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Royal Bank of Canada lifted their price target on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Wells Fargo & Company lifted their price target on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Finally, Robert W. Baird lifted their price target on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and an average price target of $373.58.

Trane Technologies Price Performance

Shares of TT opened at $392.57 on Friday. The company has a market capitalization of $88.59 billion, a price-to-earnings ratio of 38.83, a P/E/G ratio of 2.70 and a beta of 1.01. Trane Technologies plc has a fifty-two week low of $184.24 and a fifty-two week high of $406.96. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84. The business’s 50-day moving average is $374.71 and its 200-day moving average is $342.75.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter in the prior year, the company earned $2.68 EPS. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. Equities research analysts expect that Trane Technologies plc will post 10.89 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. Trane Technologies’s dividend payout ratio is currently 33.23%.

Insider Buying and Selling

In related news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

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.