Trane Technologies plc (NYSE:TT) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its position in Trane Technologies plc (NYSE:TT) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,720 shares of the company’s stock after selling 940 shares during the period. Retirement Systems of Alabama’s holdings in Trane Technologies were worth $17,995,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Global Wealth Strategies & Associates bought a new position in Trane Technologies during the 4th quarter valued at $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Trane Technologies in the 3rd quarter valued at about $27,000. DT Investment Partners LLC bought a new position in shares of Trane Technologies during the third quarter worth about $36,000. Sound Income Strategies LLC grew its stake 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. Finally, Pittenger & Anderson Inc. acquired a new stake in Trane Technologies during the third quarter valued at approximately $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 876 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the sale, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at $22,818,050.22. This represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,157 shares of company stock valued at $3,168,885 over the last ninety days. Insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

NYSE TT opened at $356.94 on Friday. The firm has a market capitalization of $80.32 billion, a PE ratio of 31.73, a P/E/G ratio of 2.18 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a 12 month low of $265.37 and a 12 month high of $422.00. The company’s 50 day simple moving average is $386.03 and its 200 day simple moving average is $377.10.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. As a group, equities research analysts forecast that Trane Technologies plc will post 12.79 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $0.94 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s payout ratio is presently 29.87%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TT. Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research report on Tuesday, January 28th. Mizuho raised their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Melius Research restated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. Northcoast Research started coverage on Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target on the stock. Finally, Robert W. Baird reduced their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. 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 stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $415.25.

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.