State of New Jersey Common Pension Fund D Trims Stock Holdings in Trane Technologies plc (NYSE:TT)

State of New Jersey Common Pension Fund D lowered its position in Trane Technologies plc (NYSE:TT - Free Report) by 1.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 83,091 shares of the company's stock after selling 844 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Trane Technologies were worth $30,690,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Strategic Advisors LLC boosted its stake in Trane Technologies by 701.5% in the 4th quarter. Strategic Advisors LLC now owns 5,899 shares of the company's stock worth $2,179,000 after purchasing an additional 5,163 shares during the period. Sierra Ocean LLC bought a new position in Trane Technologies in the 4th quarter worth about $63,000. Monument Capital Management boosted its stake in Trane Technologies by 6.7% in the 4th quarter. Monument Capital Management now owns 6,966 shares of the company's stock worth $2,573,000 after purchasing an additional 436 shares during the period. J.W. Cole Advisors Inc. boosted its stake in Trane Technologies by 3.4% in the 4th quarter. J.W. Cole Advisors Inc. now owns 1,790 shares of the company's stock worth $661,000 after purchasing an additional 59 shares during the period. Finally, Secured Retirement Advisors LLC boosted its stake in Trane Technologies by 0.6% in the 4th quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company's stock worth $1,709,000 after purchasing an additional 28 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Price Performance

NYSE:TT traded down $3.81 during mid-day trading on Thursday, reaching $366.74. The stock had a trading volume of 1,140,128 shares, compared to its average volume of 1,495,328. The firm has a 50 day moving average price of $376.38 and a two-hundred day moving average price of $379.24. The stock has a market capitalization of $82.26 billion, a P/E ratio of 32.60, a P/E/G ratio of 2.48 and a beta of 1.05. Trane Technologies plc has a one year low of $274.77 and a one year high of $422.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share 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%. As a group, analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $0.94 dividend. This is a boost from Trane Technologies's previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies's payout ratio is 29.87%.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the transaction, the chief financial officer now directly owns 62,221 shares of the company's stock, valued at $22,299,384.19. The trade was a 1.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 value 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. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock valued at $4,388,966 in the last ninety days. Company insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on TT shares. Robert W. Baird cut 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. JPMorgan Chase & Co. raised their target price on Trane Technologies from $387.00 to $396.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Royal Bank of Canada lifted their price target on Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research report on Friday, January 3rd. Barclays lifted their price target on Trane Technologies from $440.00 to $500.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Finally, UBS Group dropped their price target on Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Trane Technologies currently has a consensus rating of "Hold" and an average target price of $415.25.

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.