Illinois Municipal Retirement Fund Increases Holdings in Trane Technologies plc (NYSE:TT)

Illinois Municipal Retirement Fund lifted its position in shares of Trane Technologies plc (NYSE:TT) by 6.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,357 shares of the company’s stock after acquiring an additional 1,550 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Trane Technologies were worth $10,104,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Global Wealth Strategies & Associates purchased a new stake in shares of Trane Technologies during the 4th quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Trane Technologies during the 3rd quarter worth approximately $27,000. Sound Income Strategies LLC boosted its stake in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after acquiring an additional 92 shares in the last quarter. Pittenger & Anderson Inc. purchased a new stake in Trane Technologies in the 3rd quarter valued at approximately $39,000. Finally, Golden State Wealth Management LLC purchased a new stake in Trane Technologies in the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the sale, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. This represents a 25.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Evan M. Turtz sold 318 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the completion of the sale, the senior vice president now owns 20,513 shares of the company’s stock, valued at approximately $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,563 shares of company stock worth $4,388,966 in the last ninety days. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the topic of a number of recent research reports. Northcoast Research initiated coverage on Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. Wells Fargo & Company reduced their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Melius Research reaffirmed a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. UBS Group reduced their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Citigroup reduced their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $415.25.

Trane Technologies Trading Up 0.6 %

TT stock opened at $349.10 on Wednesday. The company has a market cap of $78.30 billion, a price-to-earnings ratio of 31.03, a PEG ratio of 2.50 and a beta of 1.05. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $372.93 and a 200-day simple moving average of $380.47. Trane Technologies plc has a 52 week low of $279.00 and a 52 week high of $422.00.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, equities research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio is presently 29.87%.

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.