Teacher Retirement System of Texas Increases Holdings in Trane Technologies plc (NYSE:TT)

Teacher Retirement System of Texas increased its position in shares of Trane Technologies plc (NYSE:TT) by 25.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 220,483 shares of the company’s stock after purchasing an additional 45,298 shares during the quarter. Teacher Retirement System of Texas owned 0.10% of Trane Technologies worth $81,435,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Global Wealth Strategies & Associates acquired a new position in shares of Trane Technologies during the 4th quarter worth $26,000. Sound Income Strategies LLC raised its position in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after acquiring an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new stake in shares of Trane Technologies in the fourth quarter valued at about $37,000. Golden State Wealth Management LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $39,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Trane Technologies during the 3rd quarter worth approximately $44,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

TT stock opened at $350.28 on Thursday. The stock has a 50-day moving average price of $362.58 and a two-hundred day moving average price of $379.83. The company has a market cap of $78.56 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 12-month low of $286.32 and a 12-month high of $422.00.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $0.94 per share. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a dividend yield of 1.07%. Trane Technologies’s payout ratio is presently 33.42%.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of recent research reports. UBS Group reduced their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research report on Tuesday, January 28th. Barclays dropped their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Royal Bank of Canada upped their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $413.69.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 876 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the transaction, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. The trade was a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,234 shares of company stock valued at $2,588,102. Company insiders own 0.38% of the company’s stock.

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.