Public Employees Retirement System of Ohio Acquires New Shares in Trane Technologies plc (NYSE:TT)

Public Employees Retirement System of Ohio bought a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 104,234 shares of the company's stock, valued at approximately $40,519,000.

Several other institutional investors also recently modified their holdings of TT. International Assets Investment Management LLC grew its holdings in Trane Technologies by 35,914.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company's stock worth $639,514,000 after acquiring an additional 1,640,569 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Trane Technologies by 35.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company's stock worth $991,460,000 after purchasing an additional 671,691 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in Trane Technologies by 7,363.1% in the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company's stock valued at $139,067,000 after purchasing an additional 417,120 shares during the period. FMR LLC raised its position in Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company's stock worth $4,018,563,000 after purchasing an additional 397,537 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in Trane Technologies by 162.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company's stock worth $147,263,000 after buying an additional 277,274 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 4,329 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Northcoast Research started coverage on shares of Trane Technologies in a report on Friday, November 22nd. They set a "buy" rating and a $500.00 price target for the company. The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. UBS Group began coverage on shares of Trane Technologies in a research report on Wednesday, November 13th. They set a "buy" rating and a $500.00 price target on the stock. Citigroup boosted their price objective on Trane Technologies from $457.00 to $478.00 and gave the company a "buy" rating in a research note on Monday. Finally, Robert W. Baird decreased their target price on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $409.93.

Trane Technologies Stock Down 1.1 %

Shares of TT traded down $4.22 on Tuesday, reaching $397.42. The company's stock had a trading volume of 1,267,018 shares, compared to its average volume of 1,119,325. Trane Technologies plc has a twelve month low of $233.76 and a twelve month high of $422.00. The stock has a market capitalization of $89.43 billion, a PE ratio of 37.09, a PEG ratio of 2.50 and a beta of 1.03. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The firm has a fifty day moving average of $401.12 and a 200-day moving average of $362.93.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.23 by $0.14. The firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company's quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.79 earnings per share. Equities analysts predict that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies's dividend payout ratio (DPR) is currently 31.17%.

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.