New York State Teachers Retirement System Sells 4,398 Shares of Trane Technologies plc $TT

New York State Teachers Retirement System cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 2.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 166,467 shares of the company’s stock after selling 4,398 shares during the quarter. New York State Teachers Retirement System’s holdings in Trane Technologies were worth $69,373,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Tucker Asset Management LLC bought a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $25,000. Hilton Head Capital Partners LLC bought a new position in Trane Technologies during the 4th quarter worth $32,000. JPL Wealth Management LLC acquired a new position in Trane Technologies in the 3rd quarter valued at $32,000. Physician Wealth Advisors Inc. lifted its position in shares of Trane Technologies by 192.6% during the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after acquiring an additional 52 shares during the period. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Trane Technologies during the 4th quarter valued at $34,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the transaction, the chief financial officer owned 60,576 shares of the company’s stock, valued at $27,259,200. This represents a 12.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares in the company, valued at $1,909,500. This represents a 54.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on TT shares. Evercore assumed coverage on Trane Technologies in a research report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Royal Bank Of Canada increased their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. BNP Paribas Exane began coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price on the stock. Finally, Sanford C. Bernstein assumed coverage on shares of Trane Technologies in a research report on Tuesday, June 9th. They issued an “outperform” rating and a $550.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $509.12.

Trane Technologies Trading Down 1.4%

Shares of TT opened at $477.76 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $505.87. The firm has a market cap of $105.61 billion, a price-to-earnings ratio of 36.95, a PEG ratio of 2.23 and a beta of 1.19. The business’s fifty day moving average is $470.69 and its 200-day moving average is $440.67.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same period in the prior year, the company earned $2.45 EPS. Trane Technologies’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities analysts anticipate that Trane Technologies plc will post 14.9 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is 32.48%.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.