Arizona State Retirement System Has $24.04 Million Position in Trane Technologies plc (NYSE:TT)

Arizona State Retirement System grew its stake in shares of Trane Technologies plc (NYSE:TT) by 0.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 65,090 shares of the company’s stock after buying an additional 190 shares during the period. Arizona State Retirement System’s holdings in Trane Technologies were worth $24,041,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Global Wealth Strategies & Associates acquired a new position in Trane Technologies in the fourth quarter worth about $26,000. MidAtlantic Capital Management Inc. acquired a new position in Trane Technologies in the third quarter worth about $27,000. Sound Income Strategies LLC raised its position in Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after purchasing an additional 92 shares in the last quarter. Pittenger & Anderson Inc. acquired a new position in Trane Technologies in the third quarter worth about $39,000. Finally, Golden State Wealth Management LLC acquired a new position in Trane Technologies in the fourth quarter worth about $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the topic of several research analyst reports. Northcoast Research initiated coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective on the stock. Royal Bank of Canada upped their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. Wells Fargo & Company decreased their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Melius Research reaffirmed a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a research note on Tuesday, January 28th. Finally, Citigroup decreased their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and an average target price of $415.25.

Insider Buying and Selling

In related news, SVP Evan M. Turtz sold 318 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the sale, the senior vice president now directly owns 20,513 shares in the company, valued at $7,346,115.56. This trade represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the sale, the senior vice president now owns 13,401 shares in the company, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock worth $2,588,102 over the last ninety days. Company insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 1.6 %

TT opened at $348.78 on Thursday. The firm’s fifty day moving average is $369.25 and its two-hundred day moving average is $380.46. 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 firm has a market cap of $78.23 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a twelve month low of $279.00 and a twelve 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 for the quarter, topping 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%. Equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently disclosed 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 represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is presently 29.87%.

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.