Louisiana State Employees Retirement System Sells 600 Shares of Trane Technologies plc (NYSE:TT)

Louisiana State Employees Retirement System trimmed its holdings in Trane Technologies plc (NYSE:TT) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,100 shares of the company’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Trane Technologies were worth $4,469,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ritholtz Wealth Management grew its position in Trane Technologies by 12.5% in the 3rd quarter. Ritholtz Wealth Management now owns 1,226 shares of the company’s stock worth $477,000 after purchasing an additional 136 shares during the last quarter. Procyon Advisors LLC raised its position in shares of Trane Technologies by 4.0% during the third quarter. Procyon Advisors LLC now owns 927 shares of the company’s stock valued at $360,000 after buying an additional 36 shares during the last quarter. Creative Planning lifted its stake in shares of Trane Technologies by 5.8% in the third quarter. Creative Planning now owns 62,756 shares of the company’s stock valued at $24,395,000 after buying an additional 3,446 shares during the period. Swedbank AB grew its position in Trane Technologies by 2.8% during the third quarter. Swedbank AB now owns 743,794 shares of the company’s stock worth $289,135,000 after buying an additional 20,400 shares in the last quarter. Finally, Braun Bostich & Associates Inc. bought a new position in Trane Technologies during the third quarter valued at about $208,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.8 %

NYSE TT opened at $361.80 on Thursday. The stock’s 50 day simple moving average is $381.60 and its 200 day simple moving average is $378.14. Trane Technologies plc has a one year low of $265.37 and a one year high of $422.00. The firm has a market cap of $81.41 billion, a PE ratio of 32.16, a price-to-earnings-growth ratio of 2.44 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT) last announced its 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 return on equity of 35.37% and a net margin of 12.94%. As a group, sell-side analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio (DPR) is presently 29.87%.

Analysts Set New Price Targets

TT has been the subject of a number of research reports. Mizuho raised their price objective on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Barclays raised their target price on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Robert W. Baird reduced their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Melius Research reiterated a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $415.25.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares of the company’s stock, valued at $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,563 shares of company stock valued at $4,388,966. Insiders own 0.38% of the company’s stock.

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.