Public Employees Retirement System of Ohio purchased a new position in shares of Trane Technologies plc (NYSE:TT – Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 86,254 shares of the company’s stock, valued at approximately $42,365,000.
Several other hedge funds also recently modified their holdings of TT. Wilkerson Advisory Group LLC lifted its position in shares of Trane Technologies by 136.0% during the 1st quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock valued at $25,000 after acquiring an additional 34 shares during the period. Tucker Asset Management LLC acquired a new stake in Trane Technologies in the fourth quarter worth $25,000. Elevation Wealth Partners LLC increased its stake in Trane Technologies by 153.8% in the second quarter. Elevation Wealth Partners LLC now owns 66 shares of the company’s stock valued at $32,000 after purchasing an additional 40 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Trane Technologies during the third quarter valued at about $32,000. Finally, Physician Wealth Advisors Inc. boosted its position in shares of Trane Technologies by 192.6% during the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock worth $33,000 after purchasing an additional 52 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.
Trane Technologies Price Performance
TT opened at $454.24 on Friday. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $505.87. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.07 and a quick ratio of 0.76. The company has a market capitalization of $99.94 billion, a price-to-earnings ratio of 34.41, a P/E/G ratio of 2.03 and a beta of 1.19. The firm’s fifty day moving average price is $473.63 and its two-hundred day moving average price is $461.43.
Trane Technologies Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be paid a dividend of $1.05 per share. The ex-dividend date is Friday, September 4th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is presently 31.82%.
Insider Buying and Selling at Trane Technologies
In other Trane Technologies news, CEO David S. Regnery sold 43,778 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $475.00, for a total transaction of $20,794,550.00. Following the completion of the transaction, the chief executive officer owned 96,950 shares in the company, valued at $46,051,250. This trade represents a 31.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on TT. Citigroup reduced their target price on Trane Technologies from $570.00 to $566.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Royal Bank Of Canada cut their price target on Trane Technologies from $501.00 to $496.00 and set a “sector perform” rating on the stock in a report on Friday, July 31st. Weiss Ratings cut Trane Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. Sanford C. Bernstein boosted their price objective on Trane Technologies from $555.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Finally, Barclays upped their target price on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies has a consensus rating of “Moderate Buy” and an average target price of $521.50.
Check Out Our Latest Stock Analysis on Trane Technologies
Trane Technologies Profile
Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.
In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.
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