Retirement Systems of Alabama Sells 271 Shares of Trane Technologies plc (NYSE:TT)

Retirement Systems of Alabama cut its stake in shares of Trane Technologies plc (NYSE:TT) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,660 shares of the company’s stock after selling 271 shares during the period. Retirement Systems of Alabama’s holdings in Trane Technologies were worth $19,304,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC boosted its holdings in shares of Trane Technologies by 35,914.4% in 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 during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in 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 worth $991,460,000 after buying an additional 671,691 shares during the last quarter. 1832 Asset Management L.P. raised its position in Trane Technologies by 7,363.1% during the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock worth $139,067,000 after acquiring an additional 417,120 shares in the last quarter. FMR LLC lifted its stake in Trane Technologies by 4.0% in the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after acquiring an additional 397,537 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of Trane Technologies by 162.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock valued at $147,263,000 after acquiring an additional 277,274 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TT. UBS Group assumed coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price on the stock. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Citigroup lifted their target price on Trane Technologies from $457.00 to $478.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. The Goldman Sachs Group increased their price target on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Robert W. Baird cut their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $409.93.

Trane Technologies Stock Down 0.1 %

TT stock opened at $399.36 on Friday. The business’s fifty day moving average price is $402.05 and its two-hundred day moving average price is $364.54. The stock has a market capitalization of $89.87 billion, a price-to-earnings ratio of 37.05, a PEG ratio of 2.43 and a beta of 1.03. Trane Technologies plc has a fifty-two week low of $233.76 and a fifty-two week high of $422.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92.

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

Trane Technologies Announces Dividend

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

Insider Buying and Selling

In related news, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the sale, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.38% of the stock is currently owned by company insiders.

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.