Trane Technologies plc (NYSE:TT) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 2.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,748 shares of the company’s stock after selling 300 shares during the period. New Mexico Educational Retirement Board’s holdings in Trane Technologies were worth $3,970,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in shares of Trane Technologies by 35,914.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after purchasing an additional 1,640,569 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after buying an additional 671,691 shares during the period. FMR LLC increased its stake in Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after purchasing an additional 397,537 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Trane Technologies by 42.9% during the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after buying an additional 293,916 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Trane Technologies by 76.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 417,193 shares of the company’s stock valued at $162,175,000 after buying an additional 181,335 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction 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 in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the 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 transaction, the senior vice president now owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,563 shares of company stock worth $4,388,966 over the last three months. Company insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 0.6 %

NYSE:TT opened at $363.58 on Friday. The firm has a market cap of $81.81 billion, a P/E ratio of 32.32, a P/E/G ratio of 2.44 and a beta of 1.05. Trane Technologies plc has a 52 week low of $270.50 and a 52 week high of $422.00. The firm’s fifty day moving average is $379.41 and its 200-day moving average is $377.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating 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 year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.03%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio is 29.87%.

Analysts Set New Price Targets

A number of research analysts have recently commented on TT shares. Northcoast Research initiated coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective for the company. Wells Fargo & Company decreased their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Citigroup lowered their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. UBS Group reduced their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $415.25.

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.