Illinois Municipal Retirement Fund Sells 4,581 Shares of Trane Technologies plc (NYSE:TT)

Illinois Municipal Retirement Fund reduced its position in shares of Trane Technologies plc (NYSE:TT) by 11.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,773 shares of the company’s stock after selling 4,581 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Trane Technologies were worth $8,969,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. SC&H Financial Advisors Inc. bought a new stake in shares of Trane Technologies in the 4th quarter valued at about $215,000. Jennison Associates LLC grew its position in shares of Trane Technologies by 4.0% in the 4th quarter. Jennison Associates LLC now owns 4,752 shares of the company’s stock valued at $1,159,000 after purchasing an additional 181 shares during the period. CWM LLC grew its position in shares of Trane Technologies by 19.2% in the 4th quarter. CWM LLC now owns 5,546 shares of the company’s stock valued at $1,353,000 after purchasing an additional 893 shares during the period. Signaturefd LLC grew its position in shares of Trane Technologies by 25.3% in the 4th quarter. Signaturefd LLC now owns 6,700 shares of the company’s stock valued at $1,634,000 after purchasing an additional 1,354 shares during the period. Finally, Lindbrook Capital LLC grew its position in shares of Trane Technologies by 9.4% in the 4th quarter. Lindbrook Capital LLC now owns 2,315 shares of the company’s stock valued at $565,000 after purchasing an additional 198 shares during the period. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on TT. Stephens boosted their price objective on Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Barclays upped their price target on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada upped their price target on Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. The Goldman Sachs Group upped their price target on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Finally, Citigroup upped their price target on Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $251.83.

Trane Technologies Trading Up 1.3 %

Shares of Trane Technologies stock opened at $294.97 on Wednesday. Trane Technologies plc has a 12-month low of $162.04 and a 12-month high of $306.98. The stock has a market cap of $66.98 billion, a P/E ratio of 33.56, a P/E/G ratio of 2.46 and a beta of 1.05. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average is $290.57 and its 200-day moving average is $252.93.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The company had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the prior year, the business posted $1.82 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. Equities research analysts predict that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 38.23%.

Insider Activity at Trane Technologies

In related news, EVP Paul A. Camuti sold 508 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $273.34, for a total value of $138,856.72. Following the sale, the executive vice president now owns 89,447 shares in the company, valued at approximately $24,449,442.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Paul A. Camuti sold 508 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the sale, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at approximately $24,449,442.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Keith A. Sultana sold 1,983 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total value of $539,891.58. Following the sale, the senior vice president now directly owns 42,575 shares in the company, valued at $11,591,469.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,874 shares of company stock worth $8,462,825. Company insiders own 0.39% 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.