California State Teachers Retirement System Trims Holdings in Trane Technologies plc (NYSE:TT)

California State Teachers Retirement System cut its position in Trane Technologies plc (NYSE:TT) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 360,654 shares of the company’s stock after selling 5,320 shares during the period. California State Teachers Retirement System owned about 0.16% of Trane Technologies worth $133,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Global Wealth Strategies & Associates purchased a new position in shares of Trane Technologies in the fourth quarter valued at $26,000. Sound Income Strategies LLC increased its stake in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after acquiring an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC bought a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $37,000. Golden State Wealth Management LLC purchased a new position in shares of Trane Technologies in the 4th quarter worth approximately $39,000. Finally, BankPlus Trust Department purchased a new stake in Trane Technologies during the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, CFO Christopher J. Kuehn sold 876 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the transaction, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at $22,818,050.22. This represents a 1.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction on 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 directly owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock valued at $2,588,102 in the last quarter. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Stock Performance

Shares of TT opened at $351.38 on Tuesday. The stock has a 50-day moving average of $342.00 and a two-hundred day moving average of $372.33. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The stock has a market cap of $78.81 billion, a P/E ratio of 31.23, a P/E/G ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a one year low of $298.15 and a one year high of $422.00.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping 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%. As a group, research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The business 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 dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.07%. Trane Technologies’s payout ratio is currently 33.42%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Royal Bank of Canada boosted their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. dropped their price objective on Trane Technologies from $396.00 to $323.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Citigroup cut their price target on Trane Technologies from $476.00 to $415.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Hsbc Global Res upgraded shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday. Finally, UBS Group lowered their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $405.94.

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.