Trane Technologies plc (NYSE:TT) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its position in shares of Trane Technologies plc (NYSE:TT) by 4.0% during the fourth quarter, Holdings Channel reports. The firm owned 404,403 shares of the company’s stock after selling 16,786 shares during the quarter. California Public Employees Retirement System’s holdings in Trane Technologies were worth $149,366,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of TT. Townsquare Capital LLC increased its stake in Trane Technologies by 55.6% during the 3rd quarter. Townsquare Capital LLC now owns 3,362 shares of the company’s stock worth $1,307,000 after buying an additional 1,201 shares during the period. CreativeOne Wealth LLC increased its position in shares of Trane Technologies by 31.7% during the third quarter. CreativeOne Wealth LLC now owns 1,810 shares of the company’s stock worth $704,000 after acquiring an additional 436 shares during the period. Public Sector Pension Investment Board raised its stake in shares of Trane Technologies by 14.0% in the third quarter. Public Sector Pension Investment Board now owns 9,772 shares of the company’s stock valued at $3,799,000 after acquiring an additional 1,200 shares in the last quarter. Financial Counselors Inc. grew its stake in Trane Technologies by 2.3% during the 3rd quarter. Financial Counselors Inc. now owns 2,442 shares of the company’s stock worth $949,000 after purchasing an additional 56 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in Trane Technologies by 13.4% during the 3rd quarter. Captrust Financial Advisors now owns 15,221 shares of the company’s stock worth $5,917,000 after purchasing an additional 1,804 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

Shares of TT opened at $331.69 on Monday. The company’s 50 day simple moving average is $357.83 and its 200-day simple moving average is $380.15. The firm has a market cap of $74.40 billion, a PE ratio of 29.48, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 12-month low of $286.32 and a 12-month high of $422.00. 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 (NYSE:TT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) 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%. As a group, equities analysts predict 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. Shareholders of record on Friday, March 7th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.13%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is presently 33.42%.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Citigroup lowered their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. Wells Fargo & Company reduced 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. UBS Group lowered their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Barclays dropped their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average price target of $413.69.

Insider Buying and Selling at Trane Technologies

In related news, SVP Mairead Magner sold 198 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is currently owned by insiders.

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.