Illinois Municipal Retirement Fund Sells 4,947 Shares of Trane Technologies plc $TT

Illinois Municipal Retirement Fund reduced its holdings in shares of Trane Technologies plc (NYSE:TT) by 17.2% during the first quarter, Holdings Channel reports. The fund owned 23,781 shares of the company’s stock after selling 4,947 shares during the period. Illinois Municipal Retirement Fund’s holdings in Trane Technologies were worth $9,910,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Bell Investment Advisors Inc lifted its holdings in shares of Trane Technologies by 12.2% in the 1st quarter. Bell Investment Advisors Inc now owns 203 shares of the company’s stock worth $85,000 after acquiring an additional 22 shares during the last quarter. Fiduciary Family Office LLC grew its holdings in shares of Trane Technologies by 1.5% during the 4th quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company’s stock valued at $612,000 after purchasing an additional 23 shares during the last quarter. Foster Dykema Cabot & Partners LLC raised its position in Trane Technologies by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company’s stock worth $93,000 after purchasing an additional 23 shares during the period. Bridges Investment Management Inc. raised its position in Trane Technologies by 1.6% in the 4th quarter. Bridges Investment Management Inc. now owns 1,542 shares of the company’s stock worth $600,000 after purchasing an additional 24 shares during the period. Finally, Bryn Mawr Trust Advisors LLC lifted its stake in Trane Technologies by 1.2% in the fourth quarter. Bryn Mawr Trust Advisors LLC now owns 2,112 shares of the company’s stock worth $822,000 after purchasing an additional 25 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TT has been the subject of several analyst reports. Sanford C. Bernstein set a $555.00 price target on shares of Trane Technologies in a research report on Thursday, July 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Evercore began coverage on Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 target price for the company. BNP Paribas Exane assumed coverage on Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price target on the stock. Finally, Barclays lifted their price target on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $516.67.

Trane Technologies Trading Down 1.1%

TT opened at $475.00 on Friday. Trane Technologies plc has a one year low of $348.06 and a one year high of $505.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The business has a 50 day simple moving average of $469.82 and a two-hundred day simple moving average of $446.82. The firm has a market capitalization of $105.00 billion, a price-to-earnings ratio of 36.74, a PEG ratio of 2.21 and a beta of 1.19.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $2.45 EPS. Analysts predict that Trane Technologies plc will post 14.89 EPS for the current year.

Trane Technologies Dividend Announcement

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

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction 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 transaction, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. The trade was a 54.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Trane Technologies Company 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.