Retirement Systems of Alabama Lowers Stock Holdings in Trane Technologies plc (NYSE:TT)

Retirement Systems of Alabama lessened its stake in Trane Technologies plc (NYSE:TT) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,931 shares of the company’s stock after selling 293 shares during the quarter. Retirement Systems of Alabama’s holdings in Trane Technologies were worth $16,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of the company. Motco purchased a new position in shares of Trane Technologies during the fourth quarter valued at approximately $27,000. Sachetta LLC purchased a new stake in Trane Technologies during the 4th quarter valued at $27,000. GoalVest Advisory LLC lifted its holdings in shares of Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Trane Technologies in the 1st quarter worth $27,000. Finally, BOK Financial Private Wealth Inc. purchased a new stake in Trane Technologies during the first quarter valued at $30,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TT. The Goldman Sachs Group boosted their price target on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. TD Cowen upped their target price on shares of Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Barclays lifted their price target on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Royal Bank of Canada upped their price objective on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company lifted their target price on Trane Technologies from $310.00 to $315.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus target price of $323.29.

Insider Buying and Selling at Trane Technologies

In other news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. Insiders sold 44,243 shares of company stock worth $14,216,550 in the last quarter. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Trading Up 0.6 %

TT stock opened at $352.91 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.74. Trane Technologies plc has a 1-year low of $184.02 and a 1-year high of $355.02. The business has a 50 day simple moving average of $335.48 and a two-hundred day simple moving average of $314.52. The company has a market capitalization of $79.88 billion, a price-to-earnings ratio of 37.70, a PEG ratio of 2.50 and a beta of 1.01.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.22. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. Trane Technologies’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the company posted $2.68 earnings per share. Research analysts anticipate that Trane Technologies plc will post 10.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Friday, September 6th. Trane Technologies’s payout ratio is presently 35.90%.

Trane Technologies 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.