Kentucky Retirement Systems Sells 47 Shares of Trane Technologies plc (NYSE:TT)

Kentucky Retirement Systems reduced its holdings in shares of Trane Technologies plc (NYSE:TT) by 0.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,461 shares of the company’s stock after selling 47 shares during the quarter. Kentucky Retirement Systems’ holdings in Trane Technologies were worth $5,209,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Minot DeBlois Advisors LLC bought a new position in Trane Technologies in the fourth quarter valued at about $26,000. WFA Asset Management Corp raised its position in Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in Trane Technologies in the fourth quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new position in Trane Technologies in the first quarter valued at about $31,000. Finally, Flagship Wealth Advisors LLC bought a new position in Trane Technologies in the fourth quarter valued at about $37,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TT has been the subject of several research reports. Robert W. Baird increased their target price on Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price objective for the company in a research report on Thursday, May 1st. Royal Bank Of Canada raised their price objective on Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. raised their price objective on Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Finally, Wells Fargo & Company raised their price objective on Trane Technologies from $330.00 to $370.00 and gave the stock an “underweight” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $427.47.

Trane Technologies Trading Down 0.1%

NYSE TT opened at $419.25 on Monday. The business has a 50 day simple moving average of $401.13 and a 200 day simple moving average of $376.68. Trane Technologies plc has a one year low of $298.15 and a one year high of $436.61. The stock has a market capitalization of $93.50 billion, a P/E ratio of 34.88, a P/E/G ratio of 2.76 and a beta of 1.16. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter last year, the firm posted $1.94 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. Research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.90%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.28%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the sale, the insider now owns 3,593 shares of the company’s stock, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.38% of the company’s stock.

About Trane Technologies

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.