Public Employees Retirement System of Ohio Buys New Position in Trane Technologies plc (NYSE:TT)

Public Employees Retirement System of Ohio bought a new position in shares of Trane Technologies plc (NYSE:TT) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 104,234 shares of the company’s stock, valued at approximately $40,519,000.

A number of other institutional investors also recently modified their holdings of TT. FMR LLC grew its holdings in shares of Trane Technologies by 4.0% during the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after purchasing an additional 397,537 shares in the last quarter. State Street Corp lifted its stake in Trane Technologies by 0.8% in the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock worth $3,797,565,000 after acquiring an additional 77,830 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after buying an additional 671,691 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Trane Technologies by 0.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock worth $832,691,000 after acquiring an additional 20,151 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Trane Technologies by 35,914.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after buying an additional 1,640,569 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. The trade was a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

TT has been the topic of several recent analyst reports. Citigroup increased their price objective on Trane Technologies from $457.00 to $478.00 and gave the company a “buy” rating in a research report on Monday. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research note on Thursday, October 31st. Mizuho increased their target price on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. The Goldman Sachs Group raised their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Barclays increased their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average price target of $409.93.

Trane Technologies Stock Down 2.5 %

Shares of NYSE:TT opened at $401.78 on Tuesday. Trane Technologies plc has a fifty-two week low of $233.76 and a fifty-two week high of $422.00. The firm’s 50 day moving average price is $400.85 and its 200 day moving average price is $362.45. The stock has a market cap of $90.41 billion, a price-to-earnings ratio of 37.27, a price-to-earnings-growth ratio of 2.50 and a beta of 1.03. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the business earned $2.79 EPS. Trane Technologies’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, equities research analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.84%. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

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.