Trane Technologies plc $TT Shares Purchased by California Public Employees Retirement System

California Public Employees Retirement System boosted its holdings in Trane Technologies plc (NYSE:TT) by 4.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 416,881 shares of the company’s stock after acquiring an additional 17,966 shares during the period. California Public Employees Retirement System owned about 0.19% of Trane Technologies worth $182,348,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in TT. Icon Advisers Inc. Co. acquired a new position in Trane Technologies during the 2nd quarter valued at approximately $26,000. Ameriflex Group Inc. bought a new stake in Trane Technologies in the second quarter valued at $28,000. Hantz Financial Services Inc. boosted its holdings in shares of Trane Technologies by 1,016.7% during the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after acquiring an additional 61 shares during the period. Saudi Central Bank bought a new position in shares of Trane Technologies during the first quarter worth about $30,000. Finally, Dagco Inc. acquired a new stake in shares of Trane Technologies in the 1st quarter worth about $37,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TT shares. JPMorgan Chase & Co. boosted their target price on shares of Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Citigroup boosted their price objective on Trane Technologies from $494.00 to $513.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Barclays increased their price objective on Trane Technologies from $485.00 to $495.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $490.00 to $550.00 in a research note on Thursday, November 13th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $470.07.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $401.33 on Monday. The stock has a market cap of $88.99 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 2.31 and a beta of 1.19. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.20 and a quick ratio of 0.84. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. The stock’s 50 day moving average price is $420.96 and its 200 day moving average price is $425.26.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.08. Trane Technologies had a return on equity of 37.04% and a net margin of 13.93%.The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same period last year, the company posted $3.37 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. Equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s payout ratio is presently 28.92%.

Insider Buying and Selling

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $440.00, for a total value of $264,000.00. Following the completion of the sale, the chief accounting officer directly owned 7,148 shares of the company’s stock, valued at approximately $3,145,120. This represents a 7.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.14% 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.