California State Teachers Retirement System Has $56.27 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

California State Teachers Retirement System trimmed its holdings in shares of Trane Technologies plc (NYSE:TT – Get Rating) by 1.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 388,548 shares of the company’s stock after selling 3,790 shares during the period. California State Teachers Retirement System owned approximately 0.17% of Trane Technologies worth $56,266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Heritage Wealth Management LLC acquired a new stake in shares of Trane Technologies during the 2nd quarter valued at $31,000. 1832 Asset Management L.P. acquired a new stake in Trane Technologies during the first quarter valued at $34,000. CI Investments Inc. grew its stake in Trane Technologies by 1,007.1% in the third quarter. CI Investments Inc. now owns 310 shares of the company’s stock valued at $45,000 after purchasing an additional 282 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Trane Technologies by 70.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 363 shares of the company’s stock worth $53,000 after purchasing an additional 150 shares during the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Trane Technologies during the 3rd quarter worth about $56,000. 81.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Citigroup boosted their price target on Trane Technologies from $204.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. BMO Capital Markets lowered shares of Trane Technologies from an “outperform” rating to a “market perform” rating and set a $180.00 price objective for the company. in a research note on Wednesday, December 21st. Wells Fargo & Company increased their target price on shares of Trane Technologies from $163.00 to $176.00 and gave the stock an “underweight” rating in a research report on Friday, February 3rd. Barclays boosted their price target on Trane Technologies from $190.00 to $193.00 and gave the stock an “overweight” rating in a research report on Thursday, January 5th. Finally, Stephens increased their price objective on Trane Technologies from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Monday, February 6th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $183.78.

Trane Technologies Stock Up 1.5 %

Shares of TT opened at $181.17 on Friday. Trane Technologies plc has a 52 week low of $120.64 and a 52 week high of $196.22. The firm has a market capitalization of $41.50 billion, a P/E ratio of 24.19, a P/E/G ratio of 2.26 and a beta of 1.00. The company has a 50-day simple moving average of $181.98 and a 200-day simple moving average of $169.48. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.77 and a current ratio of 1.12.

Trane Technologies (NYSE:TT – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.18. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.94 billion. Trane Technologies had a return on equity of 29.14% and a net margin of 10.98%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company earned $1.36 EPS. On average, equities research analysts expect that Trane Technologies plc will post 8.34 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 3rd will be paid a $0.75 dividend. This is a boost from Trane Technologies’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, March 2nd. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.66%. Trane Technologies’s dividend payout ratio is currently 40.05%.

Insider Transactions at Trane Technologies

In related news, SVP Evan M. Turtz sold 462 shares of the stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $186.02, for a total value of $85,941.24. Following the completion of the transaction, the senior vice president now owns 17,573 shares of the company’s stock, valued at $3,268,929.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Trane Technologies news, SVP Evan M. Turtz sold 462 shares of the company’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $186.02, for a total value of $85,941.24. Following the sale, the senior vice president now directly owns 17,573 shares in the company, valued at $3,268,929.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Evan M. Turtz sold 2,095 shares of Trane Technologies stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $190.83, for a total value of $399,788.85. Following the transaction, the senior vice president now directly owns 19,601 shares of the company’s stock, valued at $3,740,458.83. The disclosure for this sale can be found here. In the last three months, insiders sold 38,970 shares of company stock valued at $6,927,921. Company insiders own 0.74% of the company’s stock.

Trane Technologies Profile

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Trane Technologies Plc engages in providing solutions to buildings, homes, and transportation. It operates through the following business segments: Americas, EMEA, and Asia Pacific. The Americas segment encompasses commercial heating and cooling systems, building controls, and energy services and solutions, residential heating and cooling, and transport refrigeration systems, and solutions in North America and Latin America regions.