State of Alaska Department of Revenue Sells 1,965 Shares of Trane Technologies plc (NYSE:TT)

State of Alaska Department of Revenue decreased its holdings in Trane Technologies plc (NYSE:TT) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 29,260 shares of the company’s stock after selling 1,965 shares during the period. State of Alaska Department of Revenue’s holdings in Trane Technologies were worth $11,373,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Capital Advisors Ltd. LLC increased its stake in shares of Trane Technologies by 33.7% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 242 shares of the company’s stock valued at $94,000 after purchasing an additional 61 shares during the last quarter. Kooman & Associates bought a new position in shares of Trane Technologies in the 3rd quarter valued at $222,000. Frank Rimerman Advisors LLC increased its stake in shares of Trane Technologies by 19.7% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,602 shares of the company’s stock valued at $2,178,000 after purchasing an additional 923 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Trane Technologies by 11.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 419,951 shares of the company’s stock valued at $160,449,000 after acquiring an additional 41,783 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its holdings in shares of Trane Technologies by 21.3% during the 3rd quarter. GHP Investment Advisors Inc. now owns 444 shares of the company’s stock valued at $173,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity

In related news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the sale, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Trane Technologies Price Performance

Shares of TT opened at $392.57 on Monday. The company has a market capitalization of $88.59 billion, a PE ratio of 38.83, a PEG ratio of 2.70 and a beta of 1.01. Trane Technologies plc has a 12 month low of $184.24 and a 12 month high of $406.96. The stock’s 50-day moving average price is $374.71 and its two-hundred day moving average price is $343.06. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.08 by $0.22. The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.68 EPS. On average, analysts anticipate that Trane Technologies plc will post 10.89 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio is 33.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Barclays raised their price objective on Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Stephens reissued an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. Morgan Stanley assumed coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective on the stock. Wells Fargo & Company raised their price objective on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada raised their price objective on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $373.58.

Trane Technologies Company 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.