Public Sector Pension Investment Board Purchases 29,356 Shares of Trane Technologies plc (NYSE:TT)

Public Sector Pension Investment Board grew its position in shares of Trane Technologies plc (NYSE:TT) by 104.4% in the first quarter, Holdings Channel reports. The fund owned 57,462 shares of the company’s stock after buying an additional 29,356 shares during the quarter. Public Sector Pension Investment Board’s holdings in Trane Technologies were worth $19,360,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Engines Advisors L.L.C. boosted its position in shares of Trane Technologies by 3.7% during the 1st quarter. Financial Engines Advisors L.L.C. now owns 6,582 shares of the company’s stock valued at $2,217,000 after acquiring an additional 232 shares during the last quarter. SouthState Corp boosted its position in shares of Trane Technologies by 132.7% during the 1st quarter. SouthState Corp now owns 356 shares of the company’s stock valued at $120,000 after acquiring an additional 203 shares during the last quarter. Nuveen LLC bought a new position in shares of Trane Technologies during the 1st quarter valued at approximately $877,468,000. Virtu Financial LLC boosted its position in shares of Trane Technologies by 29.5% during the 1st quarter. Virtu Financial LLC now owns 6,341 shares of the company’s stock valued at $2,136,000 after acquiring an additional 1,445 shares during the last quarter. Finally, Fiduciary Family Office LLC purchased a new stake in Trane Technologies during the 1st quarter valued at $511,000. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TT has been the topic of several recent research reports. Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target on the stock in a report on Thursday, May 1st. Northcoast Research lowered Trane Technologies from a “buy” rating to a “neutral” rating in a report on Friday, August 1st. UBS Group increased their price target on Trane Technologies from $500.00 to $544.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and increased their price target for the company from $415.00 to $460.00 in a report on Thursday, July 31st. Finally, Royal Bank Of Canada increased their price target on Trane Technologies from $463.00 to $467.00 and gave the company a “sector perform” rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $458.60.

Trane Technologies Stock Performance

TT stock opened at $428.22 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The business’s fifty day simple moving average is $435.38 and its two-hundred day simple moving average is $390.02. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The firm has a market cap of $95.28 billion, a price-to-earnings ratio of 33.96, a PEG ratio of 2.68 and a beta of 1.09.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $0.09. The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.30 earnings per share. Analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 29.82%.

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.