New York State Common Retirement Fund Acquires 4,443 Shares of Trane Technologies plc (NYSE:TT)

New York State Common Retirement Fund raised its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 365,429 shares of the company's stock after purchasing an additional 4,443 shares during the period. New York State Common Retirement Fund owned 0.16% of Trane Technologies worth $134,971,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tidal Investments LLC boosted its stake in Trane Technologies by 22.2% during the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company's stock valued at $6,152,000 after purchasing an additional 2,874 shares during the period. Synovus Financial Corp raised its position in shares of Trane Technologies by 16.8% during the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company's stock worth $3,431,000 after buying an additional 1,271 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Trane Technologies during the 4th quarter worth about $468,000. HB Wealth Management LLC raised its position in shares of Trane Technologies by 14.3% during the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company's stock worth $2,101,000 after buying an additional 711 shares in the last quarter. Finally, GDS Wealth Management raised its position in shares of Trane Technologies by 4.3% during the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company's stock worth $20,123,000 after buying an additional 2,124 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Trading Down 3.3 %

Shares of TT stock traded down $12.08 during trading hours on Friday, reaching $354.56. 1,163,504 shares of the stock traded hands, compared to its average volume of 1,485,568. Trane Technologies plc has a 1-year low of $279.00 and a 1-year high of $422.00. The business has a fifty day moving average price of $375.72 and a 200 day moving average price of $379.16. 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 firm has a market capitalization of $79.52 billion, a PE ratio of 31.52, a PEG ratio of 2.53 and a beta of 1.05.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, March 7th. This is an increase from Trane Technologies's previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.06%. Trane Technologies's payout ratio is presently 29.87%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wells Fargo & Company dropped their price target on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating on the stock in a research report on Friday, January 31st. Royal Bank of Canada boosted their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research report on Friday, January 3rd. UBS Group dropped their price target on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Melius Research reiterated a "hold" rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, Robert W. Baird dropped their target price on shares of Trane Technologies from $408.00 to $404.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. 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, the stock presently has a consensus rating of "Hold" and an average target price of $415.25.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 2,754 shares of the business's stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Mairead Magner sold 4,329 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now directly owns 12,893 shares in the company, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,563 shares of company stock valued at $4,388,966. Corporate 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.