New York State Common Retirement Fund Increases Position in Trane Technologies plc (NYSE:TT)

New York State Common Retirement Fund lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 1.2% during the 4th quarter, Holdings Channel reports. The fund owned 365,429 shares of the company’s stock after buying an additional 4,443 shares during the quarter. New York State Common Retirement Fund’s holdings in Trane Technologies were worth $134,971,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TT. Swedbank AB increased its stake in Trane Technologies by 2.8% during the third quarter. Swedbank AB now owns 743,794 shares of the company’s stock worth $289,135,000 after acquiring an additional 20,400 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Trane Technologies by 26.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 67,925 shares of the company’s stock valued at $26,404,000 after acquiring an additional 14,273 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Trane Technologies in the 3rd quarter valued at approximately $126,000. Whittier Trust Co. lifted its holdings in shares of Trane Technologies by 2.9% in the 3rd quarter. Whittier Trust Co. now owns 3,559 shares of the company’s stock worth $1,383,000 after acquiring an additional 99 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Trane Technologies by 12.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,152 shares of the company’s stock worth $837,000 after purchasing an additional 232 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TT. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Northcoast Research assumed coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective for the company. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a report on Thursday, October 31st. Wells Fargo & Company cut their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Finally, UBS Group cut their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $415.25.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the sale, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,563 shares of company stock worth $4,388,966. Insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $362.54 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The stock has a market cap of $81.58 billion, a PE ratio of 32.23, a P/E/G ratio of 2.44 and a beta of 1.05. Trane Technologies plc has a 1 year low of $270.50 and a 1 year high of $422.00. The stock has a fifty day moving average price of $376.98 and a 200 day moving average price of $379.31.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Sell-side analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.04%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio (DPR) is 29.87%.

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.