Trane Technologies plc (NYSE:TT) Shares Purchased by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina boosted its stake in Trane Technologies plc (NYSE:TT) by 0.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 101,567 shares of the company’s stock after purchasing an additional 693 shares during the period. Treasurer of the State of North Carolina’s holdings in Trane Technologies were worth $37,514,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates purchased a new position in shares of Trane Technologies during the fourth quarter worth $26,000. Sound Income Strategies LLC raised its holdings in shares of Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares during the period. Flagship Wealth Advisors LLC acquired a new position in Trane Technologies during the 4th quarter worth about $37,000. Golden State Wealth Management LLC purchased a new position in Trane Technologies during the 4th quarter valued at about $39,000. Finally, BankPlus Trust Department acquired a new position in Trane Technologies in the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, CEO David S. Regnery sold 2,754 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the sale, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. This represents a 2.03 % 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 firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the transaction, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Stock Down 1.1 %

Shares of NYSE:TT opened at $338.94 on Friday. The firm has a 50 day simple moving average of $347.31 and a 200-day simple moving average of $376.74. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $76.02 billion, a PE ratio of 30.13, a P/E/G ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. On average, equities analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies’s dividend payout ratio is currently 33.42%.

Analysts Set New Price Targets

Several analysts have recently issued reports on TT shares. JPMorgan Chase & Co. reduced their price target on shares of Trane Technologies from $396.00 to $323.00 and set a “neutral” rating on the stock in a research report on Tuesday. Melius Research reiterated a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Royal Bank of Canada raised their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. UBS Group cut their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Citigroup decreased their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and an average price target of $409.13.

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.