29,721 Shares in Trane Technologies plc (NYSE:TT) Purchased by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado bought a new position in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,721 shares of the company’s stock, valued at approximately $10,977,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Trane Technologies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock valued at $7,104,658,000 after buying an additional 152,353 shares during the last quarter. Geode Capital Management LLC raised its holdings in Trane Technologies by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company’s stock valued at $1,760,549,000 after buying an additional 136,349 shares during the last quarter. Norges Bank bought a new position in Trane Technologies in the 4th quarter valued at approximately $1,117,816,000. Raymond James Financial Inc. bought a new position in Trane Technologies in the 4th quarter valued at approximately $611,322,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Trane Technologies by 4.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,258,480 shares of the company’s stock valued at $464,820,000 after buying an additional 55,515 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE TT opened at $351.38 on Tuesday. The firm’s 50-day moving average price is $342.00 and its 200-day moving average price is $372.33. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $422.00. The firm has a market capitalization 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. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 33.42%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Hsbc Global Res upgraded shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday. Citigroup dropped their price objective on shares of Trane Technologies from $476.00 to $415.00 and set a “buy” rating for the company in a report on Monday, April 14th. Royal Bank of Canada increased their target price 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. Melius Research reissued a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Trane Technologies from $396.00 to $323.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $405.94.

Insider Buying and Selling

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the transaction, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David S. Regnery sold 2,754 shares of the firm’s 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 transaction, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,234 shares of company stock valued at $2,588,102. Company insiders own 0.38% of the company’s stock.

Trane Technologies Company 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.