California Public Employees Retirement System Buys 17,550 Shares of Trane Technologies plc $TT

California Public Employees Retirement System raised its stake in shares of Trane Technologies plc (NYSE:TT) by 4.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 434,431 shares of the company’s stock after buying an additional 17,550 shares during the period. California Public Employees Retirement System owned about 0.20% of Trane Technologies worth $183,313,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Consulate Inc. bought a new position in Trane Technologies in the third quarter valued at about $25,000. Icon Advisers Inc. Co. bought a new stake in shares of Trane Technologies during the 2nd quarter valued at about $26,000. United Community Bank increased its position in shares of Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after purchasing an additional 43 shares during the last quarter. Halbert Hargrove Global Advisors LLC lifted its stake in shares of Trane Technologies by 34.2% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock worth $43,000 after purchasing an additional 26 shares during the period. Finally, Hantz Financial Services Inc. lifted its stake in shares of Trane Technologies by 58.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock worth $45,000 after purchasing an additional 39 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Elizabeth A. Elwell sold 635 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $268,414.50. Following the transaction, the chief accounting officer directly owned 7,100 shares in the company, valued at $3,001,170. The trade was a 8.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 2,389 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total value of $1,105,390.30. Following the sale, the chief financial officer owned 60,486 shares of the company’s stock, valued at $27,986,872.20. This represents a 3.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 49,378 shares of company stock valued at $21,228,464 over the last three months. Insiders own 0.14% of the company’s stock.

Trane Technologies Price Performance

NYSE TT opened at $422.66 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $479.37. The stock has a market cap of $93.55 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 2.22 and a beta of 1.19. The company’s 50 day moving average is $426.27 and its two-hundred day moving average is $417.13.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same period in the prior year, the company posted $2.61 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be issued a dividend of $1.05 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s payout ratio is 32.36%.

Analysts Set New Price Targets

Several brokerages recently issued reports on TT. Oppenheimer boosted their target price on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Royal Bank Of Canada increased their price target on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective for the company in a research note on Monday, December 15th. Finally, UBS Group decreased their target price on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $484.67.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.