Healthcare of Ontario Pension Plan Trust Fund Sells 52,964 Shares of Trane Technologies plc $TT

Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in Trane Technologies plc (NYSE:TT) by 79.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,901 shares of the company’s stock after selling 52,964 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Trane Technologies were worth $5,793,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Trane Technologies by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock valued at $7,791,909,000 after acquiring an additional 192,270 shares during the period. State Street Corp boosted its position in Trane Technologies by 0.6% during the fourth quarter. State Street Corp now owns 10,113,123 shares of the company’s stock worth $3,936,034,000 after purchasing an additional 61,393 shares during the period. Geode Capital Management LLC increased its holdings in shares of Trane Technologies by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock valued at $1,964,896,000 after purchasing an additional 14,179 shares during the last quarter. Norges Bank bought a new position in shares of Trane Technologies in the fourth quarter valued at about $1,163,124,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Trane Technologies by 0.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,340,219 shares of the company’s stock worth $910,813,000 after buying an additional 7,537 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TT shares. KeyCorp lifted their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Barclays raised their price objective on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Friday, July 17th. Citigroup increased their target price on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Finally, Sanford C. Bernstein set a $555.00 price target on Trane Technologies in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $516.67.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $446.90 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $98.79 billion, a price-to-earnings ratio of 34.56, a price-to-earnings-growth ratio of 2.16 and a beta of 1.19. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $505.87. The company has a 50-day simple moving average of $470.96 and a two-hundred day simple moving average of $452.15.

Trane Technologies (NYSE:TT) last announced its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same quarter in the prior year, the business posted $2.45 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. Analysts forecast that Trane Technologies plc will post 14.89 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio is currently 32.48%.

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.