Retirement Systems of Alabama Cuts Holdings in Trane Technologies plc (NYSE:TT)

Retirement Systems of Alabama cut its stake in Trane Technologies plc (NYSE:TT) by 2.5% in the 4th quarter, Holdings Channel reports. The fund owned 50,336 shares of the company’s stock after selling 1,307 shares during the quarter. Retirement Systems of Alabama’s holdings in Trane Technologies were worth $12,277,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Trane Technologies in the 3rd quarter worth approximately $208,000. Commonwealth Equity Services LLC lifted its stake in Trane Technologies by 1.9% in the third quarter. Commonwealth Equity Services LLC now owns 41,603 shares of the company’s stock worth $8,442,000 after purchasing an additional 793 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in Trane Technologies by 17.1% during the third quarter. Pinnacle Associates Ltd. now owns 10,397 shares of the company’s stock valued at $2,110,000 after buying an additional 1,518 shares during the period. Dakota Wealth Management bought a new position in shares of Trane Technologies during the third quarter valued at about $215,000. Finally, Birchcreek Wealth Management LLC purchased a new position in shares of Trane Technologies in the third quarter worth about $203,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Mizuho raised their price target on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday. Robert W. Baird raised their target price on shares of Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a report on Wednesday. Stephens upped their price target on shares of Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a report on Wednesday. Citigroup increased their price target on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, The Goldman Sachs Group boosted their price objective on shares of Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and an average price target of $288.38.

Insider Transactions at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 2,767 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total value of $742,413.77. Following the completion of the transaction, the chief financial officer now directly owns 54,788 shares in the company, valued at approximately $14,700,168.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,767 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the transaction, the chief financial officer now owns 54,788 shares in the company, valued at approximately $14,700,168.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the completion of the sale, the chief financial officer now owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,237 shares of company stock worth $8,024,534. Corporate insiders own 0.39% of the company’s stock.

Trane Technologies Trading Down 0.7 %

TT opened at $315.08 on Thursday. The stock has a market cap of $71.39 billion, a PE ratio of 33.66, a PEG ratio of 2.61 and a beta of 1.01. The business has a 50 day moving average of $294.39 and a 200-day moving average of $256.74. Trane Technologies plc has a 52 week low of $162.04 and a 52 week high of $327.09. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company had revenue of $4.22 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same period last year, the business earned $1.41 EPS. Trane Technologies’s quarterly revenue was up 15.0% compared to the same quarter last year. Equities research analysts predict that Trane Technologies plc will post 10.49 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.07%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

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.