Teacher Retirement System of Texas Lowers Stake in Trane Technologies plc $TT

Teacher Retirement System of Texas reduced its position in shares of Trane Technologies plc (NYSE:TT) by 15.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,604 shares of the company’s stock after selling 23,326 shares during the quarter. Teacher Retirement System of Texas owned 0.06% of Trane Technologies worth $54,066,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TT. Nuveen LLC purchased a new position in Trane Technologies in the 1st quarter valued at about $877,468,000. Wellington Management Group LLP lifted its stake in Trane Technologies by 245.1% in the 1st quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company’s stock valued at $722,493,000 after buying an additional 1,522,933 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Trane Technologies by 9.8% in the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock valued at $5,297,235,000 after buying an additional 1,408,421 shares in the last quarter. Nordea Investment Management AB lifted its stake in Trane Technologies by 89.1% in the 2nd quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock valued at $1,066,845,000 after buying an additional 1,157,405 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Trane Technologies by 95.1% in the 1st quarter. AQR Capital Management LLC now owns 885,039 shares of the company’s stock valued at $291,727,000 after buying an additional 431,495 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Up 2.4%

Shares of NYSE TT opened at $425.81 on Monday. The company has a 50 day simple moving average of $416.36 and a 200-day simple moving average of $415.72. The company has a market capitalization of $94.75 billion, a P/E ratio of 33.77, a P/E/G ratio of 2.65 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.79 by $0.09. The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, equities research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, December 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 29.82%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. The Goldman Sachs Group raised their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Royal Bank Of Canada increased their price objective on shares of Trane Technologies from $463.00 to $467.00 and gave the company a “sector perform” rating in a report on Thursday, July 31st. Northcoast Research downgraded shares of Trane Technologies from a “buy” rating to a “neutral” rating in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $464.29.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the completion of the transaction, the chief executive officer owned 123,713 shares of the company’s stock, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

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.