Trane Technologies plc (NYSE:TT) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its stake in Trane Technologies plc (NYSE:TT) by 1.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 360,654 shares of the company’s stock after selling 5,320 shares during the period. California State Teachers Retirement System’s holdings in Trane Technologies were worth $133,208,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its stake in shares of Trane Technologies by 22.2% in the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after purchasing an additional 2,874 shares during the last quarter. Synovus Financial Corp boosted its stake in Trane Technologies by 16.8% during the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after buying an additional 1,271 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Trane Technologies during the fourth quarter valued at about $468,000. HB Wealth Management LLC raised its stake in shares of Trane Technologies by 14.3% in the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after acquiring an additional 711 shares during the period. Finally, Crossmark Global Holdings Inc. raised its position in Trane Technologies by 31.2% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company’s stock valued at $10,733,000 after purchasing an additional 6,910 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, SVP Evan M. Turtz sold 318 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the sale, the senior vice president now owns 20,513 shares in the company, valued at approximately $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,234 shares of company stock valued at $2,588,102. Insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE TT opened at $351.38 on Tuesday. The stock’s 50-day simple moving average is $342.00 and its 200-day simple moving average is $372.33. The firm has a market capitalization of $78.81 billion, a PE ratio of 31.23, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $422.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates 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 research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Friday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

Wall Street Analyst Weigh In

TT has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price target on Trane Technologies from $396.00 to $323.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Melius Research reaffirmed a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. Citigroup reduced their price target on shares of Trane Technologies from $476.00 to $415.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a report on Tuesday, January 28th. Finally, HSBC upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $405.00 to $415.00 in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $405.94.

About Trane Technologies

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.